SUBANG JAYA: Haier Malaysia aims for 30 per cent revenue growth over the next five years. Managing Director Fan Jing said the company also targets a 17.4 per cent market share by 2027, reinforcing its position as an industry leader in the country.
According to BERNAMA News Agency, Fan Jing announced the company’s ambitious plans during the Haier 2024 Southeast Asia Media Conference. He stated the goal of becoming an absolute market leader in Malaysia with a market share exceeding 30 per cent by 2029. In his speech, he mentioned that by 2025 the company anticipates a 33 per cent revenue increase, with middle and high-end products accounting for 50 per cent of sales and a price index exceeding 100.
Fan outlined three core strategies for the coming year: strengthening the high-end product offering, innovating marketing channels, and deepening their utilisation of digital platforms. He emphasised the company’s continued investment in high-end products, focusing on driving innovation in functionality and technol
ogy, particularly in the refrigerator segment.
To boost brand awareness, Haier Malaysia plans to increase its marketing investment by 30 per cent in 2025 compared to this year. The company also intends to extend its partnership with the Badminton World Federation (BWF) in Southeast Asia, sponsoring major tournaments like the 2025 Malaysia Open and Malaysia Masters.
In addition to marketing efforts, Haier Malaysia plans to expand its brand shop network, aiming to add 20 new shops to reach a total of 75 by 2025. The company is also preparing to launch several new models, including room air conditioners, in 2025 to strengthen its market position across various categories.
Fan Jing also reflected on the company’s performance, highlighting that Haier Malaysia had achieved its 40 per cent growth target for 2024 ahead of the holiday season. He noted robust growth across product categories, with air conditioner sales rising 47 per cent year-on-year, followed by televisions at 38 per cent, washing machines at 37 pe
r cent, and refrigerators at 35 per cent.