Home / Business / Home Appliances Tools: Save | Print | E-mail | Most Read | Comment
Bosch seeks 2nd spot with store move
Adjust font size:

Bosch Group's home appliance division said it plans to open 500 outlets across the country as it seeks to become the No. 2 foreign player in the market before 2015.

By the end of the year, 150 outlets will be opened mainly in major retail and department stores.

"Bosch home appliances have grown by more than 50 percent annually since we entered China five years ago and we are among the top three makers in Shanghai," said Roland Gerke, president and chief executive officer of Bosch and Siemens Home Appliances Group China. "Now we have decided to target the high-end market by expanding the sales network."

The company has identified decoration projects for high-end apartments as a new driver for business growth as this sector is set to generate more than 10 percent of the firm's total revenue within five years.

Bosch, which entered China's home appliance sector in 2004, intends to grow aggressively to catch up with its Japanese peers such as Mitsubishi, LG and Panasonic.

But industry experts warned that their high prices may scare off customers even as the foreign brands boast high-tech products.

"Domestic brands still dominate the home appliance market as price is one vital factor," said Li Fuchun, secretary general of the Shanghai Household Electric Appliance Profession Association.

He added the high prices of most foreign brands would put off the huge number of consumers in China's rural areas.

Sweden-based Electrolux shut its factory in Changsha, Hunan Province this year after closing one in Nanjing in Jiangsu Province in 2004. The world's largest appliance maker, Whirpool Corp, shut its Shanghai plant this year.

(Shanghai Daily September 4, 2009)

Tools: Save | Print | E-mail | Most Read Bookmark and Share
Pet Name
China Archives
Related >>
- Bosch sees China as hot green market
- Bosch confident in China's economy
June 7 Tokyo 2nd China-Japan High-Level Economic Dialogu

June 30 Shanghai 2009 Automotive Engine Technology Seminar

September 8-12 Xiamen China Int'l Fair for Investment and Trade
- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?