[THE INVESTOR ] Dayou Winia, a Korean electronics firm, has joined hands with Haier, one of China’s leading electronics makers, to jump into the Chinese market,
The Korean firm, well known for its electric rice cooker and kimchi refrigerator brand Dimchae, said it has signed a memorandum of understanding with the Qingdao-headquartered electronics firm for a partnership to sell its electronic cookers in China.
Executives of Dayou Winia and Haier participate in an event to sign a sales partnership in Qingdao, China, on June 27. Dayou Winia
Dayou Winia’s Dimchae electronic rice cooker, which will be named Casarte Dimchae in China, will be available through 33,600 retail shops run by or in partnership with Haier for a year from September.
“Haier suggested to sell the Dimchae cooker with the name to utilize the premium image of Haier’s Carsate brand in China,” said a Haier official, forecasting the cooker will become a hit product as the market for premium cooker is rapidly growing in China.
The Korean firm said that it would sell 5,000 units of the cooker model in the latter half this year, and 30,000 units next year.
Dayou Winia was formed after vehicle component supplier Dayou A-Tech’s acquisition of Winia Mando in 2014.
Dayou A-Tech, an affiliate of Dayou Group, took over Winia Mando, which was struggling for dire finances for years by acquiring a 70 percent share of the latter, worth 80.5 billion won (US$67.6 million).
By Kim Young-won (
wone0102@heraldcorp.com)