Haier India may also consider a public listing, although no final decision has yet been taken, Business Standard reported.
Haier India initiated its commercial operations in January 2004 and is a 100 percent subsidiary of Qingdao, China-headquartered Haier Group, one of the fastest-growing consumer durables companies in the world
Haier India is investing Rs 1,500 crore in the second phase of expansion at its Greater Noida facility, mostly on the backward integration and is expected to complete by 2025, which will in turn help it increase the localisation of the components.
Just like its bottom-mounted refrigerators, Haier India has turned the country’s consumer durable market upside down. In 2018, it clocked net sales worth Rs 3,500 crore to become the fourth-largest white goods company in India.
Consumer appliances and electronic goods maker Haier India is eyeing 30 percent increase in sales this year on the back of higher demand during the festive season.
Consumer appliances and electronic goods maker Haier India is looking to treble its revenue to Rs 6,500 crore by 2020 on the back on increased manufacturing and increased penetration of consumer goods in the country
Earlier in May, the company had said it would invest Rs 360 crore at Pune by 2017 and plans to increase the manpower by 120 per cent to 2,600 employees across the country.
The company is undertaking capacity expansion to keep pace with its target of clocking around 30 percent growth to touch a turnover of Rs 2,150 crore in 2015.
Sony and Toshiba are facing the Revenue Intelligence Department's scrutiny for allegedly misusing the Asean-India Free Trade Agreement norms that allow duty concessions for imported goods
Sony and Samsung have ruled out any immediate hike in prices of products even as a steep fall in rupee against dollar has squeezed margins.
Consumer durables firm Haier India today said it expects 33 per cent increase in its turnover to Rs 1,600 crore which will help it to break even in the current financial year.
Haier India, a leading Home Appliances and Consumer Electronics brand, today said it is targeting a sales turnover of Rs 1,800 crore in the country in 2012.