Chinese appliance maker Haier Group Co. said Wednesday it aims to have sales of ¥50 billion in Japan this year by reinforcing its product lineup with the Aqua brand.
The brand was formerly for Sanyo Electric Co’s washing machines. Haier agreed last year to acquire the brand from Sanyo parent Panasonic Corp.
The fast-growing Chinese maker said that out of the total sales target, it aims to log ¥35 billion via the Aqua brand and ¥15 billion from the Haier brand. Haier already sells home appliances under its own brand in Japan.
In 2015, the Chinese maker aims to boost its Aqua sales to more than ¥50 billion and grab a market share of more than 15 percent, from ¥35 billion in sales and a 10 percent share in 2012.
Haier also set up Haier Asia International in Osaka on Jan. 5 to oversee sales, production, research and development in Japan as well as in Vietnam, Indonesia, Thailand, Malaysia and the Philippines.
“There still is potential in Asia because consumer electronics have not yet spread in some countries. It is also our role to tap these markets,” said Du Jingguo, vice president of Haier Group and president of Haier Asia International.
Haier plans to widen its Aqua lineup from the current 63 washers, driers, refrigerators and freezers.