SUBANG JAYA: Haier Malaysia is aiming for 30% revenue growth over the next five years and 17.4% market share by 2027, reinforcing its position as an industry leader in the country, managing director Fan Jing said.
“We also aim to achieve an absolute market leader position in Malaysia with a market share exceeding 30% by 2029,“ he said in a speech at the Haier 2024 Southeast Asia Media Conference here today.
Looking ahead to 2025, Fan said the company anticipates a 33% revenue increase, with its middle and high-end products accounting for 50% of sales and its price index exceeding 100.
“Next year, we will focus on three core strategies: strengthening our high-end product offering, innovating marketing channels, and deepening our utilisation of digital platforms. We will continue investing heavily in our high-end product line, driving innovation in both functionality and technology for the refrigerator segment.”
Fan disclosed that Haier Malaysia will boost its brand awareness by increasing marketing investment by 30% in 2025 compared to this year.
The company will also extend its partnership with the Badminton World Federation (BWF) in Southeast Asia, sponsoring major tournaments including the 2025 Malaysia Open and the Malaysia Masters.
“Looking ahead, we will continue to expand our brand shop network, aiming to add another 20 new shops, bringing the total to 75 shops in 2025,“ he said.
Building on momentum, Haier has several new models lined up for 2025, including room air-conditioners, and aims to strengthen its market position across multiple categories.
Reviewing performance, Fan noted that Haier Malaysia has achieved its 40% growth target for 2024 ahead of the holiday season. “Haier’s product categories experienced robust growth, with air-conditioner sales rising a spectacular 47% year-on-year, followed by televisions (38%), washing machines (37%) and refrigerators (35%),“ he said. – Bernama
