Toshiba home appliances comes back to China


After the acquisition by Midea Group, Toshiba-brand will come back with its home appliances on the Chinese stores after more than a year. The brand, in fact, had been sold in China until 2015, when a drop of sales caused a retreat of the products from the market. Then Midea acquired 80.1% stake last year in Toshiba Lifestyle Products & Services, the white goods business of Toshiba, allowing the coming back of the brand range to the Chinese shops. Now, Toshiba still owns a 19.9% stake in Toshiba Lifestyle. The agreement between the two companies includes a first step, during which they will jointly develop microwave ovens, that will be manufactured by Toshiba. In a second phase, also refrigerators and other products will be realized.
According to Nikkei Asian Rewiew, Midea will position Toshiba appliances as top-of-the-line products among its offerings, while similar products traded under the Midea brand will be characterized by basic functions and carry low prices.