Dubai, United Arab Emirates, 3 August 2016

Eros Group, UAE's trusted distributor for consumer electronics with a portfolio of world renowned brands Samsung, Hitachi, Linksys, TCL and the recently added electronic brand; Midea, announced its new brand became the first company from the Chinese household appliances industry to enter the Fortune Global 500 list; an annual ranking of the top 500 corporations worldwide as measured by revenue.

Midea debuted at 481st after a strong 2015 that saw the company achieve USD 22.17 billion revenue, and total profit of USD 2.02 billion, representing a 21 percent year-on-year increase.

Midea has invested USD 3 billion in research and development over the past five years and now operates R&D institutes in China, the United States, Japan, Germany, Italy and Singapore, integrating global resources to drive technological breakthroughs. This is in addition to an USD 1.04 billion investment in improving automation which has resulted in an average current automation ratio of 17 percent.

Elvis Wang, General Manager, Midea Middle East said, "In 2015 the global home appliances industry faced more challenges, and Midea was able to fly upwind by adhering to the strategy of developing cutting-edge products, improving efficiency and emphasizing global operations. Our entry into the Fortune Global 500 list is a reflection of our continued commitment to provide consumers with smart, consumer-friendly and trendy household appliances."

Midea's global platform now operates more than 200 subsidiaries and 9 strategic business units, and the company runs seven full-scale operations covering R&D, manufacturing and sales in 6 countries including Vietnam, India, Belarus, Egypt, Brazil and Argentina. Midea products are sold in more than 200 countries and regions worldwide.

The company also landed several high-profile projects in 2015, including winning the bid to install central air-conditioning in the stadiums for sports games in Brazil.

Deepak Babani, CEO, Eros Group, said, "We are extremely pleased that Midea has entered the Fortune Global 500 list. The company provides a comprehensive innovative product portfolio to meet the growing demand for quality home appliances and consumer electronics and we are happy and proud to offer these cutting-edge products in the UAE."

Midea products are available at Eros Digital Home stores and at leading retail partners across the UAE.

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About Eros Group
Eros Group is the largest and most respected consumer electronics distributor and retailer in the UAE owned by the Badri Group of Companies. Eros Group was awarded the Service Excellence award by the Department of Economic Development and was also recognized as Brand of the Year by the SuperBrands Council.

Today, the group has a strong team of more than 1500 employees with professional experience in various fields. The Group's Chief Executive, Mr. Deepak J Babani and a team of highly qualified and experienced managers provide direction, executive control and management. Eros' consistently high quality sales and services of products is a testimony to group's excellence in business process and employee involvement. It is also reflected in the group's accreditation to the ISO 9001:2000 Quality Systems.

About Midea
Established in 1968, Midea is a brand leader in China in many categories, the world No.1 brand of air-treatment products and world's largest producer of major appliances. Midea specializes in air treatment (HVAC for B2B and B2C), refrigeration, laundry, large cooking appliances, small kitchen appliances, water appliances, floor care and lighting. Headquartered in South China, Midea currently operates with over 100,000 employees in more than 200 countries and 21 production facilities worldwide. Almost 50 years of persistent growth has brought its global revenue to $22.17 billion USD in 2015.

Looking ahead, Midea persists with its strategy to continue as a highly dynamic enterprise, with the aspiration for consistent growth that is characteristic of a world class business.

For further information, kindly contact:
Dalia Achour
Senior PR Manager
Blue Apple Mediacom FZ LLC 
Dubai, UAE 
Mob: +971566068211
Tel: +9714 4390161 
Email: dalia@blueappleco.com
website: www.blueappleco.com 

© Press Release 2016