Midea

Midea operates as a home appliance and consumer electronics manufacturer specializing in air conditioning, refrigeration, and related products. The company designs, manufactures, and distributes products globally.

In 2026, Midea continues its remarkable growth trajectory, having reported record 2024 results with unprecedented shareholder returns. According to Euromonitor, Midea ranked as the world's top smart home appliances brand in 2024, with its smart home business generating annual revenue of RMB 269.5 billion. Overseas markets contributed over 40% of total revenue, with self-owned brand (OBM) sales representing over 43% of that figure. The company's main business is producing home appliances and commercial air conditioners, with air conditioners alone accounting for CNY161.1 billion in 2023 (over $20 billion USD), and other appliances accounting for CNY134.7 billion.

Midea operates through multiple business units including Smart Home, Building Technologies, Industrial Technology, Robotics and Automation, Healthcare, and Smart Logistics. The company has established itself as the first Chinese home appliance company to gain three major international ratings from Moody's, Fitch, and S&P, demonstrating its global financial credibility and operational excellence. Midea's smart home business encompasses various brands including Little Swan (founded in 1958, specializing in washing machines, refrigerators, and air conditioners), which was among China's first washing machine producers and launched the country's first fully automatic model in 1978.

The company employs over 150,000 people worldwide and maintains manufacturing facilities, research and development centers, and distribution networks across multiple countries. Midea invests significantly in innovation and technology, with its HVAC products generally contributing the most to revenue, followed by other consumer appliances, and robotics and automation systems. The company continues to focus on smart home technology, energy efficiency, and connected appliances while maintaining its position as a leading global home appliance manufacturer.

Midea was founded in 1968 by He Xiangjian in Foshan, China. The company was established as a small home appliance manufacturer.

Throughout the 1980s and 1990s, Midea expanded its product portfolio and manufacturing capacity. The company became a leading home appliance manufacturer in China.

In the 2000s, Midea expanded internationally, establishing manufacturing facilities and distribution networks in multiple countries. The company became a major global home appliance manufacturer.

Throughout the 2010s, Midea continued to expand globally and invested in technology and innovation. The company acquired various brands and expanded its product portfolio.

In 2018, Midea acquired German robotics company KUKA, expanding its capabilities in automation and robotics. The company has continued to invest in advanced manufacturing technologies.

In recent years, Midea has focused on smart home technology, energy efficiency, and connected appliances. The company has established itself as a leading global home appliance manufacturer.