- Revenue (2024): RMB 285.98 billion (approximately $39.5 billion USD)
- Net Profit (2024): RMB 18.74 billion, up 12.92% year-on-year
- Employees: Over 122,000 worldwide
- Market Cap: Approximately $36 billion USD
- Global Ranking: No. 1 major appliance brand for 16 consecutive years (Euromonitor)
Haier Smart Home Co., Ltd. stands as one of the world’s largest home appliance manufacturers. Headquartered in Qingdao, Shandong Province, China, the company designs, manufactures, and sells refrigerators, washing machines, air conditioners, water heaters, and kitchen appliances.
The company operates under multiple global brands including Haier, Casarte, Leader, GE Appliances, Fisher & Paykel, Aqua, and Candy. Haier Smart Home ranks 407th on the Fortune 500 and maintains manufacturing facilities across more than 100 countries.
Originally founded as Qingdao Refrigerator Co. in 1984, the company transformed from a struggling factory into a global leader in smart home solutions. The business changed its name to Haier Smart Home in 2019 to reflect its strategic focus on intelligent technology and connected living.
Haier Smart Home History
Haier Smart Home Co-founders
Haier Smart Home Competitors
Haier Smart Home competes in a global market dominated by established manufacturers from China, South Korea, Europe, and the United States. The company faces direct competition from domestic rivals Midea Group and Gree Electric Appliances in the Chinese market.
International competitors include Samsung Electronics and LG Electronics from South Korea, Whirlpool Corporation from the United States, and Electrolux from Sweden. European competitors such as Robert Bosch and Miele focus on premium market segments.
| Company | Headquarters | Key Products |
|---|---|---|
| Midea Group | Foshan, China | Air conditioners, refrigerators, washing machines, robotics |
| Gree Electric Appliances | Zhuhai, China | Air conditioners, refrigerators, household appliances |
| Samsung Electronics | Seoul, South Korea | Smart appliances, refrigerators, washing machines, TVs |
| LG Electronics | Seoul, South Korea | Refrigerators, washing machines, air conditioners, TVs |
| Whirlpool Corporation | Michigan, USA | Washers, dryers, refrigerators, dishwashers |
| Electrolux | Stockholm, Sweden | Refrigerators, washing machines, vacuum cleaners |
| Robert Bosch | Stuttgart, Germany | Refrigerators, dishwashers, washing machines |
| Panasonic | Osaka, Japan | Air conditioners, refrigerators, washing machines |
| Hisense | Qingdao, China | TVs, refrigerators, air conditioners |
| Miele | Gütersloh, Germany | Premium washers, dishwashers, vacuum cleaners |
Haier Smart Home Revenue
Haier Smart Home achieved revenue of RMB 285.98 billion in 2024, representing a 4.29% increase from the previous year. The company generates approximately 50% of its revenue from overseas markets, with North America serving as the largest international contributor.
The refrigerator segment remains the company’s largest revenue driver, followed by washing machines and air conditioning. Premium brand Casarte continues to show strong growth, exceeding 30% revenue increase in Q4 2024.
Haier Smart Home Marketcap
Haier Smart Home maintains a market capitalization of approximately $36 billion USD as of December 2025. The company trades on the Shanghai Stock Exchange (600690), Hong Kong Stock Exchange (6690.HK), and Frankfurt Stock Exchange (690D.DE).
Market cap grew significantly following the 2016 GE Appliances acquisition. Since 2005, the company’s market capitalization increased from $685 million to over $33 billion, representing compound annual growth of approximately 20%.
Haier Smart Home Acquisitions
Haier Smart Home pursued an aggressive acquisition strategy to expand its global footprint and product portfolio. The company’s approach focuses on acquiring established brands with strong regional presence and complementary technology capabilities.
The 2012 acquisition of Fisher & Paykel for approximately NZ$750 million gave Haier access to premium appliance markets in Australia and New Zealand. Fisher & Paykel brought innovative dishwasher technology and manufacturing facilities in New Zealand, Thailand, Mexico, and Italy. This deal positioned Haier in the high-end market segment where Chinese brands traditionally lacked presence.
The 2016 GE Appliances acquisition for $5.6 billion represented Haier’s largest deal. This purchase provided immediate scale in North America, where GE Appliances served over half of American households. The acquisition included manufacturing facilities, research centers, and iconic American appliance brands with 150 years of history.
The 2018 Candy Group acquisition for €475 million strengthened Haier’s position in European markets. Candy brought manufacturing facilities in Italy and established distribution networks across Western Europe. Haier established its European headquarters at Candy’s location in Brugherio, Italy.
In October 2024, Haier completed the acquisition of Carrier Commercial Refrigeration from Carrier Global for $775 million. This deal expanded Haier’s portfolio into commercial refrigeration for industrial, food retail, and cold storage sectors. The company also acquired South African water heater leader Kwikot in December 2024 to accelerate growth in African markets.
FAQs
Who founded Haier Smart Home?
Zhang Ruimin founded Haier in 1984 when appointed director of Qingdao Refrigerator Factory. He transformed the struggling factory into a global appliance leader over four decades.
What brands does Haier Smart Home own?
Haier Smart Home owns seven global brands: Haier, Casarte, Leader, GE Appliances, Fisher & Paykel, Aqua, and Candy. Each brand targets different market segments and regions.
Where is Haier Smart Home headquartered?
Haier Smart Home headquarters are located in Qingdao, Shandong Province, China. The company maintains regional headquarters in the United States, Europe, and other major markets.
What is Haier Smart Home market share?
Haier holds over 40% retail market share in China for refrigerators and washing machines. Globally, the company ranks first in major home appliance retail volume for 16 consecutive years.
Is Haier a Chinese company?
Haier Smart Home is a Chinese multinational company headquartered in Qingdao. Haier Group Corporation owns approximately 35% of Haier Smart Home shares.