Off the wire
• Feature: Decoding Finland: Beauty of simplicity in Santa's hometown  • BiH to apply for EU membership in Feb.: report  • UNWTO and partners present toolkit to lower energy use in hotels  • South Sudan hails Khartoum's decision to revise oil transit fees  • Google agrees to pay Britain 130 mln pounds in back taxes  • Spotlight: China, Middle East dovetailing development strategies set to unleash enormous cooperation potential  • Urgent: China supports Iran's application for full membership of SCO  • Roundup: Afghan conflicts claim 21 lives in 2 days  • Urgent: China, Iran oppose unjust sanctions against other countries  • Beer shipped from coast to Tibet by train  
You are here: 　 Home

China's Haier profits rise 20 percent in 2015

Xinhua, January 23, 2016 Adjust font size:

China's leading home appliance maker Haier said its profits jumped 20 percent year on year to 18 billion yuan (2.7 billion U.S. dollars) in 2015, despite falling global sales.

Haier's global sales reached 188.7 billion yuan last year, down six percent year on year, due to global economic downturn and business adjustment of the company, said Zhou Yunjie, rotating president of Haier, in the company's annual meeting on Saturday.

Haier is dismantling its traditional corporate structure in favor of building an open platform where people can bring in their own ideas and resources to develop new products and services, said Zhang Ruimin, chairman of Haier.

Over the past decade, Haier got rid of 20,000 middle managers, hoping to transform into an incubator for innovators, according to Zhang.

Haier accounts for over 10 percent of worldwide home appliance sales, according to a 2014 survey by Euromonitor. Earlier this month, the company announced its purchase of U.S. conglomerate GE's appliances business. Endi