Malaysia
Singapore
Philippines
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Haier Malaysia has set ambitious growth targets, aiming for a 30% revenue increase over the next five years and a 17.4% market share by 2027, with aspirations to solidify its position as Malaysia’s top appliance brand by 2029. Managing Director Fan Jing announced this at the Haier 2024 Southeast Asia Media Conference.
“We aim to achieve an absolute market leader position in Malaysia with a market share exceeding 30% by 2029,” said Fan.
Growth Strategies for 2025
Haier Malaysia anticipates a 33% revenue increase in 2025, driven by a strategic focus on high-end products and digital innovation. Key initiatives include:
- Expanding high-end product offerings: These products are projected to make up 50% of sales, with a price index exceeding 100.
- Enhanced marketing efforts: Marketing investments will rise by 30% in 2025 to boost brand awareness.
- Strengthening digital platforms: The company plans to deepen its integration with digital channels to enhance customer engagement.
Fan also emphasized the company’s commitment to innovation, particularly in the refrigerator segment, where functionality and technology advancements will drive growth.
Expanding Retail and Brand Presence
Haier Malaysia plans to expand its brand shop network, adding 20 new shops in 2025 to bring the total to 75 stores nationwide. The company will also continue its partnership with the Badminton World Federation (BWF), sponsoring key tournaments like the 2025 Malaysia Open and Malaysia Masters.
“Looking ahead, our partnership with BWF will play a crucial role in strengthening our brand visibility across Southeast Asia,” said Fan.
Strong 2024 Performance
Haier Malaysia reported achieving its 40% growth target for 2024 ahead of the holiday season, with significant year-on-year sales increases across key categories:
- Air-conditioners: Up 47%
- Televisions: Up 38%
- Washing machines: Up 37%
- Refrigerators: Up 35%
Fan credited the robust growth to the company’s focus on delivering innovative and high-quality products tailored to the Malaysian market.
With several new product launches planned for 2025, including room air-conditioners, Haier aims to further strengthen its position across multiple categories. The company’s long-term vision is underpinned by a strategic mix of innovation, market expansion, and digital transformation, positioning it to achieve its goal of 30% market share by 2029.
“Our efforts next year will not only drive revenue growth but also ensure that Haier remains the brand of choice for Malaysian households,” Fan concluded.