In 2017, the entire refrigerator industry faced a period of concern, marking it as a significant year for the sector’s evolution. The industry as a whole struggled with low growth or even negative growth, and competition among a few dominant players became increasingly fierce. Market dynamics were shifting rapidly, and in October of that year, Xinfei Refrigerator was forced to halt production due to financial difficulties. Once one of the "Four Golden Flowers" in the industry, its decline raised serious concerns about the sustainability of refrigerator brands.
Since the launch of the first domestic refrigerator in 1979, the Chinese refrigerator industry has grown over the past 39 years. Looking back at its history, many once-prominent companies have faded away due to intense market competition, while only Haier managed to rise as a global leader. As 2017 came to an end, it was a fitting time to reflect on the brands that had disappeared or been acquired, and to review the rollercoaster journey of the industry over nearly four decades.
Here is a list of some well-known refrigerator brands that either went out of business, were rebranded, or were acquired:
| Brand Name | Time to Market | Operating Conditions |
|------------|----------------|----------------------|
| Wanbao | 1870s | Hard support |
| New Fly | 1880s | Collapse |
| White Snow | 1880s | Collapse |
| Rongsheng | 1880s | Resale |
| Meiling | 1890s | Resale |
| Snowflake | 1880s (home) | Resale |
**New Flying Refrigerator – A Former Giant That Fell**
Founded in 1984, Xinfei quickly gained a strong presence in the Chinese refrigerator market. By 1996, it ranked among the top three national brands, with a market share approaching 20%. It became one of the “Four Golden Flowers†in the industry, symbolizing a new era of living standards. Its famous slogan, “Xinfei Advertising is doing well, not as good as Xinfei Refrigerator,†reflected its popularity during that time.
However, by 2005, sales still remained in the top three, reaching 3 million units. But from then on, the brand began to decline, and by 2012, its market share had dropped to just 6%, pushing it out of the first tier.
**Wanbao Refrigerator – The Earliest Player to Fall Behind**
Wanbao produced China’s first household refrigerator in 1979 and operated for nearly 40 years. In the 1980s, it introduced a production line from Singapore and enjoyed high demand. However, as the market evolved, it gradually lost its position and faded from mainstream visibility.
**Baiyun Refrigerator – Once Known as “South Haierâ€**
Baiyun was once a major player in the southern region, often compared to Haier. In the early 2000s, it failed to keep up with innovation and globalization, and eventually disappeared from the market. Today, only “North Haier†remains prominent, while “South Baiyun†is long gone.
**Meiling and Rongsheng – “Two Golden Flowers†Rebranded**
Both Meiling and Rongsheng were part of the “Four Golden Flowers†and were closely associated with Haier and Xinfei. Over time, they were either acquired or rebranded—Meiling became part of Changhong Electric, and Rongsheng was integrated into Hisense Kelon.
**Toshiba – Poorly Managed Acquisition**
In 2016, Midea acquired 80.1% of Toshiba’s home appliance division for 3.3 billion yuan. However, Toshiba had been struggling financially since 2012, losing over 9.7 billion yuan in 2015. After the acquisition, Midea gained access to some high-end products, but Toshiba's brand presence in China remained limited.
**Sharp – Marginalized in the Refrigerator Market**
After being acquired by Foxconn, Sharp made progress in the panel industry, but in refrigerators, it fell behind. Despite launching new models in 2017, its market share remained low at just 0.2%, making it difficult to compete effectively.
**Electrolux – A Foreign Giant That Faded**
Once a leading foreign brand in China, Electrolux struggled to adapt to local preferences. It failed to capture user needs, either replicating European designs or imitating local products. This disconnect led to its decline, and by 2017, it no longer ranked in the top ten.
**Samsung and LG – Shrinking Market Share**
Although Samsung and LG initially saw rapid growth in China, their market share declined over the years. By 2017, Samsung held 4.5%, and LG only 1.2%, placing them in the second tier.
**Haier – The Global Leader in Refrigeration**
Haier stands out as the true winner in the refrigerator industry. With a 31.6% market share, it has consistently ranked first for 27 consecutive years. Unlike many competitors who relied on OEM production, Haier focused on building its own brand. It invested heavily in R&D, establishing 10 global research centers and 30 advanced factories. With 708 invention patents, Haier leads the industry through continuous innovation and a user-centric approach.
By comparing Haier’s success with the failures of other brands, it becomes clear that strategic vision, innovation, and a deep understanding of consumer needs are key to long-term survival in such a competitive market.
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