Haier Smart Home announced its financial results for the first quarter of 2021, revealing operational revenue of 7 billion euros, a 27 percent rise year on year. Overseas sales climbed by 24.6 percent year on year, with sales growth in high-end items exceeding 40 percent.
In 2020, the firm expects to have a global turnover of around 26.5 billion euros, with smart appliance sales increasing by 29% internationally. In 2020, Haier Europe’s revenues were around 2.1 billion euros, an increase of 8.7 percent year over year. With a 7.2 percent market share, it ranks seventh in the European home appliance business.
2020 was an exceptional year, according to Yannick Fierling, CEO of Haier Europe, with several challenges, and people safety has always been our first concern. “We are dedicated to ensuring company continuity and supporting our customers, and our financial results demonstrate that all of our efforts are paying off. We have an ambitious long-term plan and growth strategy for Europe for the next few years, and the strong Q1 2021 result demonstrates we are on the right road” as reported.
Haier Europe, headquartered in Italy, is reinforcing its European position in connection and IoT with a multi-brand strategy: the firm controls the three brands Candy, Hoover, and Haier. Throughout this approach, the firm has increased market scale and overall profitability while continuing to focus on high-end brands, with the Haier brand expanding over 20% and featuring highly innovative products.
In its journey from a traditional manufacturing company to a co-creation and IoT community ecosystem, the company intends to strengthen its cloud platforms strategy with new innovations such as the hOn Smart Home Experience, which was designed to connect all Haier Europe brands in a single and intuitive living ecosystem: hOn. It was officially unveiled at IFA 2020 and received the Red Dot Award in the Brands & Communication Design 2020 category.