Midea has been a leading competitor in China’s white goods market for some time, but the rising competition in its core air conditioner market has forced it into expansion into manufacturing and selling refrigerators and washing machines, and based on its recent sales results, this has been a successful move.
Midea (as a leading domestic brand) also stands to gain from the further development of the rural appliance rebate scheme, which has significantly pushed up volume sales of refrigerators in particular, and which is part of a broader emerging consumer market in rural China that is helping to boost overall domestic consumption. Domestic brands have also been taking away market share from foreign appliance makers as Chinese consumers have become increasingly nationalistic in their buying trends, which can also only be good for a brand such as Midea.
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