Successful transformation into a technology leader

From a labor-intensive manufacturing leader to a talent-intensive innovation pioneer, Chinese home appliance maker Midea has transformed itself into a global technologies group.

To enter the robotics and automation industry, Midea has acquired Kuka, allied with Servotronix and partnered with Yaskawa Electric Corp over the past two years.

According to the company, robotics and automation are complementary to its existing strength in home appliances. It is developing a global operations system, including research and development, sales, aftersales services and promotions, to serve its different segments.

This, the company says, will make it more efficient and eliminate the overdependence on a certain product category or a certain activity in the value chain.

In fact, its manufacturing of household appliances still exhibits strong performance.

The company's figures show that Midea recorded revenue of more than $28 billion in the first three quarters of this year, shipping more than 300 million home appliances to global users, and the same number of core components to manufacturers worldwide.

As the only Chinese household appliance company to be included on the Fortune Global 500 list since 2016, Midea will partner with the Fortune Global Forum for the first time this year. The forum is being held in Guangzhou, capital of Guangdong province, Dec 6-8.

(China Daily 12/06/2017 page23)