To increase revenue! Haier Transforms Universal Household Appliances with Internet of Things

According to foreign media reports on November 8, Chinese home appliance manufacturer Haier is seeking to accelerate the transformation of its recently acquired general-purpose home appliances, and will use the development of the data platform to connect with home appliances based on the Internet of Things. Haier’s CEO Zhang Ruimin stated: “Our goal is to double revenue and profits in the next five years.”

Haier purchased General Electric's home appliance business for $5.6 billion in June 2016. Zhang Ruimin said that the strategy of helping companies turn profitable has begun to play a role, because the profit growth rate in the first nine months of 2017 has risen to 10%. Zhang Ruimin believes that profits will continue to increase as we continue to promote the development of the Internet of Things.

Zhang Ruimin said: "Imagine that by touching the screen on the refrigerator, you can buy things from the online store." When more devices are enabled on the network, consumers can also use the smart phone application to find useful information, such as by using On the phone app, you can check if there is a washing machine in the nearby laundry room.

Zhang Ruimin said: "We learned a lot from GM, especially the famous "Six Sigma" quality control system in the 1990s. But I believe that the key to business success is to quickly switch to the right track. Haier is now on the right track. We have mastered the Internet and we will bring this knowledge to GM." (Internship Compilation: Jiao Jinrui Reviewer: Li Zongze)

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