About us |
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Founded in 1968, Midea started as a household appliances business and was listed in the Shenzhen Stock Exchange in 1993. Midea continues to expand with the acquisition of Hualing & Royalstar and a joint venture with Toshiba Carrier in 2004; the acquisition of Chunhua Vacuum Cleaner in 2005 and the acquisition of Little Swan and a joint venture with Carrier in 2008. Today, with headquarters based in Shunde - China, Midea has reached net sales of US$14 billion in 2009. With 15 domestic production bases and land covering 7 million square metres, Midea has over 130,000 employees.
Midea emphasises on the ability to focus on product innovation and development by relying on its strong R&D system and teams. Midea has invested over US$400 million on R&D in 2009 and currently has 15,000 engineers in the R&D department. As a result, 600 new products, on an average, were launched into the market every year and have attained 3600 patents to date. With a strong background in R&D, Midea continues to reach forward with its firm beliefs in:
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