The Chinese appliance manufacturer Haier has decided to liquidate the Russian legal entity of the Italian brand Candy, of which it is the owner. The brand’s local production in Kirov is closed due to low profitability.
Before the start of the special operation in Ukraine, the plant planned to produce up to 1 million units of equipment per year, but after the introduction of sanctions and other restrictions, production did not exceed 300-400 thousand units, Kommersant learned.
The Chinese manufacturer has another plant in Russia and Candy production has obsolete lines, according to market participants, so it can be sold at the price of real estate or declare bankruptcy.
- In January-June 2023, Russians purchased more than 500 thousand refrigerators and freezers, washing machines, dishwashers, stoves and ovens of Turkish brands Beko, Grundig, Vestel, Simfer, etc. This is one and a half times more compared to the same period in 2022 of the year.
- Previously, Russian distributors of electronics and household appliances began moving supply channels from Kazakhstan to Kyrgyzstan, China and the United Arab Emirates after the Kazakh government’s statements on tightening controls on parallel imports to Russia. Equipment prices may increase by 10-12%.
Author:
Karina Pardaeva
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
