Be the most informed person in the room with Newsy's free e-newsletter

View our privacy policy: http://www.newsy.com/privacy/

Selling Its Appliances Arm Could Boost Brand Recognition For GE

After a failed deal with Electrolux, General Electric sold its appliances branch to Chinese company Haier for $5.4 billion.
SMS

General Electric is selling its appliances business to Chinese company Haier.

In a press release, GE says Haier bought the appliances arm of the company for $5.4 billion. (Video via General Electric)

While Louisville, Kentucky, will remain the appliances headquarters, GE hopes the decision will help it globally. (Video via General Electric)

As part of the deal, Haier gets to keep using the GE Appliances name, something GE hopes will grow the overall brand in China. (Video via Haier)

GE says business was doing well for appliances and the sale will help GE investors. (Video via Haier)

The companies expect the transaction to close mid-2016. (Video via General Electric)

This video includes images from Getty Images.

Featured Stories
Flowers and candles are placed outside the Reina nightclub in Istanbul.

Suspect In The Istanbul New Year's Eve Nightclub Attack Confesses

Relatives of passengers who were on the missing MH370 flight.

Relatives Of Missing MH370 Passengers Face Suspended Search Efforts

Chris Kattan and Will Ferrell in "A Night at the Roxbury."

When It Comes To Numbers For Women In Film, It Might As Well Be 1998

Want to see more stories like this?
Like Newsy on Facebook for More Company News Coverage