Haier Electrical Appliances (Thailand) Co., Ltd. has set an ambitious revenue target of 14 billion baht ($400 million) for 2025, following a successful financial performance in 2024 with a revenue of 11 billion baht.

Despite the cooler weather, the company remains confident in significant growth opportunities in the air conditioning market.

Mr. Dong Jianping, President of Haier Electrical Appliances (Thailand) Co., Ltd., highlighted that the overall home appliance market in Thailand was valued at 70 billion baht in 2024, with a growth rate of 5.4%.

Haier Thailand witnessed a remarkable 22% increase in sales, achieving a revenue slightly over 11 billion baht, surpassing the 9.07 billion baht mark of the previous year.

In the annual revenue breakdown, 5.1 billion baht came from home air conditioner sales, maintaining the top market position with a 26% growth in offline sales.

Refrigerator sales accounted for over 1.6 billion baht, growing by 25%, washing machines reached over 900 million baht with a 21% increase, freezers led the market with over 1 billion baht and a 15% growth, commercial air conditioning sales stood at 1 billion baht with a 31% rise, television sales surpassed 600 million baht with 16% growth, and water heater sales exceeded 100 million baht, marking a 35% increase.

Looking ahead to 2025, Mr. Dong Jianping outlined a 28% sales growth goal, aiming at 14 billion baht in revenue.

Haier plans to invest over 1.2 billion baht in proactive marketing activities to deepen consumer engagement, with 200 million baht dedicated to sport marketing strategies, which have previously opened new consumer segments and bolstered sales.

Mr. Dong Jianping expressed confidence that despite cooler weather, sales will align with the targets, particularly with projected air conditioner sales reaching 6 billion baht.

Currently, only 50% of households are equipped with air conditioners, indicating substantial market potential.

Recent government economic stimulus measures are expected to further facilitate market expansion.

In terms of sales channel strategies, Haier plans to expand distribution coverage, targeting a 35% increase in modern trade channels, a 15% rise in dealer channels, a 35% growth in e-commerce, and a 15% expansion in B2B markets.

Haier also plans to introduce over 50 new models across seven popular appliance categories, ranging from small to large appliances, to cater to diverse consumer segments.

New products will include the Haier UV Cool Voice Series air conditioners, featuring AI voice control capabilities in Thai without internet or Wi-Fi connectivity, and other smart appliances.

Additionally, Haier has introduced the Italian air conditioner brand Candy, featuring the new ECO Master Series with a high-efficiency power rating of five-star level three, focusing on e-commerce to attract the modern lifestyle of younger consumers.

Drawing attention to the emphasis on innovation, Mr. Dong Jianping stated that Haier consistently develops products across all categories aligned with contemporary consumer trends, showcasing advanced AI and technological innovations to enhance user experience in a variety of lifestyles.