Haier Group to buy Fisher & Paykel

In an effort to expand appliance sales outside of its native China, Haier bid to purchase Fisher & Paykel. Haier has attempted to boost sales globally, but has yet to overcome a stigma of the poor quality of Chinese products, states Jamie Ko, Head of Global Appliance Research at Euromonitor. With this recent purchase, Haier hopes to use the strength of Fisher and Paykel's known product quality and innovation to expand within Europe and North America.