The world's largest electronics company returns to Vietnam

Haier, the parent company of Aqua or GE Appliances, launched in the Vietnamese market for the second time. The product strategy changed when their "sub" brand gained a foothold in the country.

Haier returns to Vietnam, selling in parallel with its sub-brand Aqua.

According to Euromonitor , Haier has been the world's largest home appliance company by sales for several consecutive years. Outside of its home market of China, the company has conquered many international markets by acquiring well-known but inefficient brands. Haier's notable acquisitions include GE Appliances in the US, Sanyo (Aqua) in Japan, and Candy in Europe.

This company did business in Vietnam in 2008, but quietly left after a short time and did not leave much of an impression on the market. This time, Haier has Aqua as a support, a home appliance brand with a relatively stable market share in the mid-range air conditioner and refrigerator segment.

For now, the Chinese home appliance brand only sells washing machines in Vietnam. The segment is aimed at the high-end price range, competing with Samsung and LG. 2 out of 4 models are priced above 50 million VND. In terms of solutions, the products have high technology content.

This company offers expensive washtower solutions or 2-in-1 machines using heat pump dryers. These are options that few companies distribute in Vietnam because they are expensive and have a small customer base.

Haier's return to Vietnam or Hisense's ( the world's second-largest TV brand) launch reflects a new trend among Chinese home appliance companies. Instead of using their own Japanese brands (Aqua, Toshiba), these brands directly do business with the brand of the billion-people country. However, the fact that the company maintains two parallel brands and sells the same products can cause a "stepping foot" phenomenon when there are too many products.

On the other hand, Korean brands still dominate the Vietnamese market. In some specific product lines, Japanese companies such as Sony, Daikin, and Panasonic maintain stable market shares. New Chinese brands still have to make efforts to affirm product quality and after-sales service so that customers can overcome the origin barrier.

In addition to washing machines, Haier's product portfolio is quite diverse, ranging from refrigerators, stoves, bathrooms, and TVs. However, the company has not announced a specific distribution plan for this product group in Vietnam. In addition, the Chinese brand's products will be sold exclusively at the Dien May Xanh chain.

Source: https://znews.vn/hang-dien-may-lon-nhat-the-gioi-quay-lai-viet-nam-post1556920.html