F&P Appliances ready to take on China as Haier digs in here
04.02.10
Carmichael said in Auckland yesterday that Haier dishwashers and washing machines had been popular. "We've had very good acceptance from the trade and channel partners."
The Haier appliances are being sold through Fisher & Paykel's approved dealer network but were targeting the mid-range market of those younger buyers of appliances making their first purchase.
Carmichael said Haier was not attacking F&P's market position.
"We don't see it that way - we're adding some segments that are an addition to their product line. There are other competitors and together we're going after the other guys."
Deals on offer through one retailer yesterday included a 647-litre Haier fridge for $3099 while a slightly smaller Fisher & Paykel fridge was on sale for $3954.
The Haier Group was founded in 1984 with headquarters in Qingdao, Shandong Province and sells in more than 100 countries.
Global revenue last year was US$17.5 billion, recording year-on-year growth of 8 per cent.
Source: New Zealand Herald
Sharemarket gives back early gains
02.02.10
The New Zealand sharemarket started the morning positively but gave it all away in the afternoon to end up slightly down for the day.
The benchmark NZX-50 index opened at 3150.968 and immediately soared close to 3170 for about three hours, but all those gains soon evaporated.
At the close of trading it was down 3.6 points, or 0.114 per cent, to 3147.366.
Turnover of 24.7 million shares was worth $50.5 million.
Telecom, which announced its $5m compensation package for users affected by its XT network outage last week, saw its share price drop shortly after the announcement at 2pm.
It had reached a day's high of 240, but slid in the afternoon to close out at 235, overall down 2c for the day.
It was better news for Auckland International Airport, which had its trading halt lifted today after successfully raising $126.4 million from institutional investors to reduce debt incurred after buying a $167m quarter stake in two Queensland airports.
Source: New Zealand Herald