Midea Group
| Company type | Public |
|---|---|
| Industry | Electrical appliances, HVAC, robotics, semiconductor |
| Founded | January 1, 1968 in Beijiao, Guangdong, China |
| Founder | He Xiangjian |
| Headquarters | Beijiao, Shunde District, Foshan , China |
Area served | Worldwide |
Key people | Paul Fang (Chairman) |
| Products | Air conditioners, refrigerators, washing machines, microwave ovens, floor care devices, small kitchen appliances, heating and ventilation systems, industrial robots, semiconductors |
Number of employees | 150,000 (2021) |
| Website | midea |
Midea Group () is a Chinese manufacturer specializing in electrical appliances, with its headquarters located in Beijiao town, within the Shunde District of Foshan, Guangdong. Since 2013, Midea has been publicly traded on the Shenzhen Stock Exchange. By 2021, the company employed approximately 150,000 individuals across more than 200 subsidiaries and upwards of 60 international branches. It has been featured on the Fortune Global 500 list starting in July 2016.
The company's extensive product range includes lighting solutions, water-related appliances, floor care devices, small kitchen equipment, laundry machines, large cooking appliances, and refrigeration units. Recognized as the world's foremost manufacturer of microwave ovens, Midea also operates extensively as an OEM for a variety of brands. Additionally, it holds a strong market position in heating, ventilation, and air conditioning (HVAC) systems. In 2017, Midea was reportedly the largest global producer of both industrial robots and household appliances.
For the fiscal year 2020, Midea recorded sales revenue totaling US$40.5 billion. It continues to be a significant participant on the main board of the Shenzhen Stock Exchange.
History
The company was established in 1968 by He Xiangjian in Beijiao, Guangdong, initially focusing on manufacturing bottle caps. By 1980, Midea had shifted its production toward complete finished products, beginning with electric fans. Five years later, it introduced its first air conditioner model—a product line that remains central to its business operations. Over the following fifteen years, the company broadened its portfolio to include refrigerators, washing machines, and microwave ovens.
In 1973, a subsidiary named "Guangdong Midea Electric" went public on the Shenzhen Stock Exchange while the parent company retained private ownership.
Midea's international growth commenced in 2007 with the establishment of manufacturing facilities in Vietnam. The following year, it entered a joint venture with Belarusian microwave manufacturer Horizont to access markets within the CIS region.
From 2010 onwards, Midea collaborated with American air conditioning company Carrier Corporation through joint ventures across Egypt, Brazil, Argentina, Chile, and India.
In August 2012, founder He Xiangjian stepped down as Chairman and was succeeded by Paul Fang. This leadership change was followed by a corporate restructuring plan in April 2013. By September of that year, Midea Group completed its public listing on the Shenzhen Stock Exchange and privatized Guangdong Midea Electric.
At the close of 2014, Chinese electronics firm Xiaomi invested CN¥1.2 billion to acquire a 1.2% stake in Midea and announced plans for strategic cooperation.
In 2016, Midea executed three significant acquisitions: it purchased Toshiba’s home appliances division for US$477 million; acquired German robotics company KUKA; and obtained the Eureka floorcare brand from Electrolux.
In 2017, Midea encountered legal challenges involving defective air conditioner and humidifier products sold under multiple U.S. brands related to recalls and replacement concerns.
December 2018 saw Midea establish MR Semi Co. Ltd., its semiconductor subsidiary marking entry into chip manufacturing.
In 2024, Midea secured a sponsorship agreement with Sevilla FC, set to continue through 2026.
Products
Midea primarily focuses on home appliances and commercial air conditioning systems. In 2023, air conditioners accounted for CNY161.1 billion (exceeding $20 billion USD) in revenue, while other appliance categories contributed CNY134.7 billion.
Within China, Midea markets its products under its own brand name. For international markets, the company mainly functions as an Original Equipment Manufacturer (OEM) and Original Design Manufacturer (ODM) for various global brands. Recently, Midea has been actively promoting its own branded products in countries such as Brazil, Argentina, Chile, India, Egypt, and across Southeast Asia.
The company's leading product line centers on residential and commercial air conditioning units. Additionally, Midea produces refrigerators, washing machines, dishwashers, and an extensive selection of smaller household appliances including microwave ovens, electric kettles, water dispensers, and vacuum cleaners. These items are either sold under the Midea brand or supplied as OEM products to international brands, often sharing internal designs while featuring distinct external appearances. This OEM approach is similarly applied to HVAC solutions like air conditioners and dehumidifiers.
Midea manages multiple sub-brands: Little Swan (specializing in laundry and refrigeration products since its acquisition in 2008), Hualing (focused on air conditioners and refrigerators), MDV (commercial air conditioning systems launched in 1999), and Pelonis (heater products).
According to a 2021 report by the New York Times, a majority of microwave ovens sold in the United States—including those under Toshiba, Whirlpool, and Black+Decker—are manufactured by Midea.
Through its subsidiary Welling, Midea also produces automotive components such as electric water pumps, oil pumps, compressors, and power steering motors aimed at the new energy vehicle sector.
Competitors
In 2020, China's appliance manufacturing landscape was dominated by key players including Haier and Gree Electric Appliances; together with Midea, these three companies represented 80% of sales among the top ten domestic appliance producers. Samsung remains a significant competitor particularly in the large appliance segment.
By 2022, Haier had become the largest home appliance manufacturer globally by revenue, with an estimated turnover of $35 billion.
Projects
During the last ten years, Midea has secured several prominent contracts involving large-scale HVAC installations. Notably, it supplied comprehensive air conditioning systems for all twelve stadiums used in the 2016 Brazil Olympic Games as well as for nine out of twelve stadiums during the 2014 Brazil World Cup. These undertakings underscore Midea’s strategic emphasis on international infrastructure projects linked to major global events.