China’s Haier Group, which just inked a deal to take over General Electric’s appliance business, is entering the Korean market with a bang, offering what it calls a ‘half-price TV’. (Image : Yonhap)
SEOUL, Jan.18 (Korea Bizwire) – China’s Haier Group, which just inked a deal to take over General Electric’s appliance business, is entering the Korean market with a bang, offering what it calls a ‘half-price TV’.
According to industry reports, Haier Korea launched a 32-inch HD LED model through its MOOKA TV brand, an online exclusive, for 299,000 won.
Considering that products from Samsung and LG with similar features cost around 500,000 won, Haier is launching the TV with a comparative price discount of up to 50 percent.
Officials from Haier Korea commented that the brand is targeting young customers. “The product’s focus is cost effectiveness. It will cause a sensation in the no-brand low-price TV market,” said a company representative.
Prior to the launch, GE announced that it signed a final agreement to sell its home appliance division to Haier for $5.4 billion.
Haier is expected to boost its sales of white goods in the North American market with the GE brand.
By Lina Jang (linajang@koreabizwire.com)
