Siemens Home Appliances: Double-digit sales growth

With the announced 26 percent growth in sales, Siemens Home Appliances' business showed its great vitality in Chinese market in 2010, realizing its promise of double-digit growth in sales made at the beginning of the year.
According to 2010's third quarter reports made by China Marketing Monitor Co Ltd, a leading market research firm in China, the company's sales value indicated that its refrigerators and front-loader washing machines have accounted for 13.6 percent and 24.8 percent market shares in China. It has taken the lead in the country's home appliances market.
Last year it showcased a high-intelligent I-Fresh refrigerator at the Shanghai World Expo.
The I-Fresh refrigerator perfectly combined 3G and mobile technologies, and thoroughly renewed consumers' current acknowledgement of refrigerator and kitchen with multi-media and interactive entertaining experiences.
The company also unveiled its IC5 built-in kitchen appliances last year and cooperated with housing developers to provide high quality and perfectly decorated houses.
Besides, it integrated the R&D strength and further expanded its product research and design team.
In 2010, BSH Home Appliances Holding (China) Co Ltd was founded.
Equipped with competitive financing and resource optimization capabilities, the new holding company would provide solid support for Siemens Home Appliances' development in China.
It also opened a second assembly line at its washing machine factory in Nanjing, Jiangsu province, and formulated plans for an all-new refrigerator plant in Chuzhou, Central China's Anhui province, to produce more varieties of refrigerators .
It plans to open flagship showrooms in first-tier cities such as Beijing and Shanghai in 2011, and also actively establish economical and efficient electronic business channels for its small household appliances.
"We are now setting for the ambitious targets of doubling our turnover, and increasing our market share in the upcoming five years.," said Roland Gerke, CEO and president of BSH Home Appliances (China) Co Ltd.
"By 2015 China will surpass Germany to become the largest sales region within BSH worldwide," he added.
He added that Siemens Home Appliances will continue its social commitments and develop more environmentally friendly products that cater to Chinese customers in the year ahead.
Source:China Daily