Midea is officially China's largest home appliances brand with a year-on-year increase of 81% in brand value, leaving Gree in second and Haier in third, according to the Hurun Report. This is a culmination of years of steady growth despite a declining market.
As early as last year, Midea Group formulated the "333" Strategy: spend 3 years in making good products and further improving the operation quality; spend 3 years breaking into the top 3 in China in every product category; spend 3 years in taking a position in the global home appliance industry and realizing global operations.
Midea is also expected to lead the way in smart home technology. A feature in China Daily cited Midea’s cooperation with Xiaomi and other domestic giants as a competitive advantage.