Midea's Acquisition of Toshiba's Consumer Appliance Division

Chinese appliance maker Midea recently purchased a majority share in Toshiba's home appliance division. Compared to other appliance leaders, Midea had already been collaborating with Toshiba since 1993, and the move fits in with Midea's overall corporate strategy. The acquisition gives Midea a foothold in western markets and overall global expansion, and the company will be ranked number one globally in consumer appliances after the deal is finalized.