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Article: Haier sells mobile phone business
- Article from:
- China Daily
- Article date:
- April 25, 2006
- Author:
CopyrightCopyright 2006 China Daily. Provided by ProQuest LLC. (Hide copyright information)
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Haier Electronics Group Co Ltd, the Hong Kong-listed arm of
China's leading home appliance maker Haier Group, is to sell its
unprofitable mobile phone business to its parent firm for about
HK$420 million (US$54.2 million).
The sale and purchase deal was signed on Thursday, the company
said in a statement yesterday to Hong Kong Exchanges and Clearing
Ltd.
The sale is part of the plan to transform Haier Electronics into
"the listed flagship of Haier's white goods business," the company
said.
Haier intends to be one of the top three global white goods
manufacturers in the world.
"The mobile handset businesses ... fall outside the scope of white
goods," the company said.
Haier Electronics saw a ...