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June 18, 2019

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Midea aims higher with fridge push

Midea Group will invest 350 million yuan (US$51.5 million) in 2019 for research on smart refrigerators as it looks to diversify its portfolio by targeting the high-end home appliance market, it said yesterday.

High tech, including AI, and other patents have become essential in the domestic market, where consumers want smarter devices amid a wave of consumption upgrade and booming technology development, industry insiders said.

“Consumers have become tech-savvy and their demands deserve to be met,” Bai Lin, general manager of Midea’s fridge business, told Shanghai Daily.

Midea plans to invest a total of 350 million yuan on high-tech research on smart fridges, including adding 200 researchers to follow the latest demands of about 70,000 tech-savvy families in China, according to the Shenzhen-listed firm.

Midea released its latest range of smart fridges in southwestern Yunnan Province, which uses AI sensors to detect different items in the unit, bringing intelligent cold delivery to vary treatment of items such as tuna and beef. And the new-tech refrigerator costs between 6,999 yuan and 14,999 yuan.


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