Midea
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Midea (美的電器 Shenzhen Stock Exchange Code 000786; Shanghai Stock Exchange Code 000527) is a Chinese electronics manufacturer located in Shunde, Guangdong. In 2002, the enterprise employed a total of more than 20,000 people in China.
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[edit] Origin
Starting with an initial investment of RMB ¥5000 on the production of bottle lids in Beijiao(北滘鎮), Shunde in 1968, Mr. He Xiangjian(何享健), the Director of the company, has successfully turned Midea into an outstanding home appliance producer in China, whose sales revenue reached RMB ¥15 billion in 2002.
[edit] Manufacturing Base
Currently (2005), three production bases are in operation in Beijiao, Daliang(大良鎮) in Guangdong Province and Wuhu in Anhui Province.
[edit] Products
At the beginning, Midea focused on the manufacture of electric fans as a village domestic enterprise. Midea then restlessly embarked on a vide variety of products, which range from electric fans, air conditioners, microwave ovens, dishwashers, rice cookers, water dispensers, domestic gas appliances, cooker hoods, heaters and vacuum cleaners to electronic controllers in 20 years' time.
Midea is particularly famous for its air conditioners. According to the 2001 survey in air conditioner industry conducted by the Development Research Center of State Council and Ministry of Information Industry of China, Midea ranks second in the domestic market, taking up nearly 13% market share, which was under 1% smaller than the first manufacturer. As far as business air-conditioners were concerned, the sales revenue of Midea in 2002 was over RMB ¥6000 million, doubling that in 2001.
[edit] Development Strategy
Midea's mission is to offer customers with high-quality products using the latest technology. Indeed, quality and innovation are highly valued by Midea. An in-depth in-house quality control earns Midea a reputation of high quality. All the products of Midea are awarded the ISO 9001 International Quality Certification. Midea's microwave ovens and cooker hoods were awarded the status of "Exemption from National Examination" (國家免檢) in 2002.
On the other hand, Media put a strong emphasis on Research & Development (R&D), which takes up 3% of sales income. An R&D team with over 99 staff, a technological development center at national standard and up-to-dated R&D facilities such as 3D-mold-making technology and thermal balance laboratory, to a very large extent, support Midea in new product development, design and production.
Midea seek extensive partnership with well-known oversea counterparts such as Toshiba, NEC, National, Merloni Italy and Texas Instruments. In 2001, Midea acquired Sanyo's microwave-oven division.
[edit] Prospect
Midea is now moving towards a high-value added production. In the near future, Midea plans to expand its sales to RMB ¥30 billion and its exports to US$ 500 million by the end of 2005. The enterprise has finished shareholding re-allocation in 2005. Yet the ultimate goal of Midea is to promote its brand overseas to make it well known worldwide.
[edit] External link
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