Daniel Slotta
Research expert covering Greater China
Midea Group - statistics & facts
Midea Group is a global technology enterprise headquartered in the South-Chinese province of Guangdong. Known for its household appliances and consumer electronics, the company also is an industry leader in robotics, industrial automation, and logistics. With over ten brands under the Midea Group umbrella, the corporation operates in over 200 countries.
To maintain its leading market position, Midea followed industry trends and pivoted towards smart products, incorporating advanced technology into their home appliances and consumer electronics sectors. It includes the development of smart air conditioners, and refrigerators among others that are integrated into a software ecosystem that can be controlled and monitored by smartphones and virtual assistants. The rebranding of the appliance segment into Smart Home Business reflects a recognition of industry trends and a demand for convenient and connected intelligent products.
One of Midea Group’s most prominent and most controversial take-over was the purchase of the German robotics company KUKA. In 2017, the company announced its proposal to purchase the German robotics company for 4.5 million euros which sparked a heated discussion in Germany about the transmission of valuable technical knowledge to an economic competitor. However, after the German ministry failed to put together a European counteroffer, Midea Group successfully acquired a 94.55 percent share in KUKA.
Midea’s product catalogue
Midea has a broad range of products which includes large and small household appliances. Like many of its Chinese counterparts, the company started by manufacturing basic and affordable goods for a population with increasing wealth and a demand for household devices. This strategy helped the company become one of the largest appliance manufacturers in China and abroad.To maintain its leading market position, Midea followed industry trends and pivoted towards smart products, incorporating advanced technology into their home appliances and consumer electronics sectors. It includes the development of smart air conditioners, and refrigerators among others that are integrated into a software ecosystem that can be controlled and monitored by smartphones and virtual assistants. The rebranding of the appliance segment into Smart Home Business reflects a recognition of industry trends and a demand for convenient and connected intelligent products.
Beyond appliances
Besides manufacturing appliances for the consumer market, Midea Group also focuses on providing automation solutions for industrial and logistical processes. Midea Smart Home is only one of five major business divisions. The other four are the Industrial Technology Group, the Building Technologies Division, the Robotics and Automation Division, and the Digital Innovation Business. Additionally, Midea Group used strategic acquisitions to integrate external technology and intellectual property into the corporation.One of Midea Group’s most prominent and most controversial take-over was the purchase of the German robotics company KUKA. In 2017, the company announced its proposal to purchase the German robotics company for 4.5 million euros which sparked a heated discussion in Germany about the transmission of valuable technical knowledge to an economic competitor. However, after the German ministry failed to put together a European counteroffer, Midea Group successfully acquired a 94.55 percent share in KUKA.
Daniel Slotta
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Jun 17, 2024
Daniel Slotta
Research expert covering Greater China
