Sanyo, Haier Forge Partnership to Expand Sales

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Last updated at: (Beijing Time) Wednesday, January 16, 2002

Sanyo, Haier Forge Partnership to Expand Sales

Japanese and Chinese electronic giants Sanyo and Haier have entered into partnership in a fresh move to expand sales of products in each other's domestic market.
The two companies would set up a joint venture, Sanyo-Haier Co., Ltd., for selling Haier's quality electronic goods in Japan and Sanyo's products in China, taking advantage of the two companies' sales channel in their homeland.

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It is learned the joint venture, launched last week, has ordered an undisclosed number of Haier brand refrigerators and washing machines which will put into the Japanese market next month.

Two in Close Cooperation

Haier executives say the two companies will also cooperate in the production and supply of parts, as well as technological cooperation and personnel exchange.

The deal was struck after three months of negotiations between the two companies, a Haier executive said Wednesday.

About Haier

Haier, based in the east China coastal city of Qingdao, is one of the leading manufacturers of consumer electronic goods famous for its quality products and after-sale service.

The company has established 12 plants overseas since 1998, including a refrigerator plant in the United States.

Sanyo, Haier Agree on Inclusive Collaboration

Japan's Sanyo Electric Co. and China's Haier Group Company (Haier) have signed a wide-ranging business tie-up agreement to market consumer electronic products in both countries, according to reports reaching on January 8 in Tokyo.

Under the agreement, Sanyo's products will be sold in China through Haier's sales network under Sanyo and Haier brand names, while sales of Haier's products in Japan will be promoted by a joint venture to be set up by the two companies, according to the reports.

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With a world market share of 5.3 percent, China's Haier Group Corporation has ranked second in the global refrigerator production industry.

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