MANILA, Philippines - Haier Electrical Appliances Philippine Inc. (HPI) expects higher sales this year and in the coming years as it expects to benefit from the country’s positive economic performance.
“We are seeing growth in sales from the Philippines,†Haier Group senior manager Gao Wei said in an interview.
He said the country’s strong economic growth is expected to allow the firm to achieve higher sales this year.
HPI vice president Yan Xuhong said in an email, sales reached around P2 billion last year.
“We forecast a good increasing in the following years,†Yan added.
Haier Electrical Appliances (Malaysia) Sdn. Bhd general manager Xin Guolei said apart from the positive economic performance, there is an opportunity to grow here given the country’s big population.
“Population in the Philippines is big. The GDP (gross domestic product) is growing so there is very good potential for marketing in the Philippines,†he said.
He said while Korean and Japanese brands are getting a bigger share of the market as well as in other countries in Southeast Asia, the firm believes it can grow its sales as their products, which are also of good quality are affordable.
“For Haier, we would like to offer best quality product even for overseas consumers,†he said.
“Our prices are competitive,†he added.
Gao said as Haier has transformed from a company engaged into mass manufacturing to mass customization by being closer to customers and developing products based on customers’ needs, the firm is confident that it will continue to have positive sales performance.
HPI was established in 2012 after China’s Haier Group acquired SANYO Electric Co., Ltd.’s businesses.
In October 2011, the Haier Group signed an agreement for the acquisition of SANYO’s washing machine and consumer use refrigerator businesses in Japan, as well as the washing machine, consumer use refrigerator and other consumer electric appliances businesses in Indonesia, Malaysia, Philippines and Vietnam.