Companies

Gome: agreement on Haier products may generate $7.4b in sales

(Agencies)
Updated: 2010-07-02 17:13

Gome Electrical Appliances Holding Ltd, China's second-biggest electronics retailer by market value, will sell Haier Group products in a deal it says may generate 50 billion yuan ($7.4 billion) in sales over three years.

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Gome will add 600 Haier products a year for distribution in the next three years, the retailer said in an e-mailed-statement. Half the items on sale will be exclusive to the electronics chain, according to the statement.

Shares in Gome rose as much as 4.6 percent to HK$2.49 (32 cents)?and traded at HK$2.44 at 3:17 pm in Hong Kong. Haier is the world's biggest maker of refrigerators and washing machines by volume.