Future on Ice for Famous Fridge-Maker
After decades in the sun, a Chinese brand synonymous with refrigerators is getting frozen out by nimbler competition, reflecting difficulties many of the oldest and best-known names face in China’s young market economy.
Home-appliance maker Henan Xinfei Electric Co. Ltd. was China’s pride and joy when it introduced cutting-edge refrigerator-production technology from European giant Philips to China in the 1980s. But following a lengthy decline that ended in a massive overhaul last year, the money-losing company is now turning to an online auction as it searches for new relevance.
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas