Business / Companies

BSH giving refrigerators a high-end update

By Wang Zhuoqiong in Beijing and Gao Changxin in Chuzhou (China Daily) Updated: 2014-04-25 06:57

BSH was No 2 in the Chinese market in terms of refrigerator sales and the first among foreign refrigerator brands in China, according to data provided by China Market Monitor.

BSH giving refrigerators a high-end update

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As the largest refrigerator market in the world, China will soon experience a period of massive upgrading and replacement due to the rapid development of the country's urban economy and changes in lifestyle, according to industry experts.

To cash in on the lucrative market, international appliance brands have geared up their businesses in China with a focus on medium and high-end categories.

Electrolux AB, which has seen market share dropping continuously over the past five years, launched a campaign last year to launch 60 new products, ranging from washing machine to refrigerators.

According to Zhao Ping, deputy-director of the Chinese Academy of International Trade and Economic Cooperation, which is under the Ministry of Commerce, sales in the home appliance industry grew by 11.1 percent last year and are on track to keep the momentum going in 2014. Sales of health-related products such as water and air purifiers are estimated to grow by 70 percent to 100 percent year-on-year, said Zhao.