The hottest Siemens selling home appliance busines

2022-08-16
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Siemens sold home appliance business and focused on four core businesses

Siemens sold home appliance business and focused on four core businesses. The existing 16 business groups will be merged into 9, and will be more focused on industries, energy, buildings, transportation, medical and other fields in the future. Selling home appliance business

after Ge sold its home appliance business to Electrolux in early September, Siemens also announced a complete farewell to the home appliance industry. Recently, Siemens announced that it would sell 50% of the shares of Bosch appliances, a joint venture between the two companies, to Bosch Group for 3billion euros. The total transaction price is 3billion euros. The acquisition has been approved by the boards of directors and supervisors of both parties and is expected to be completed in the first half of 2015

a person from Siemens' China Enterprise Communication Department said that Boxi home appliances will become a wholly-owned subsidiary of Bosch group. Siemens is no longer a shareholder. Boxi home appliances is allowed to use Siemens' brand for a long time and continue to independently produce and sell home appliances

according to the data, in 1967, Bosch group and Siemens merged the household appliance businesses of both sides to establish Boxi household appliances, with each side accounting for 50% of the shares. With the help of the plastic exchange platform, Siemens Household appliances have been independently produced, sold and provided after-sales services by Boxi household appliances since then

the above-mentioned person explained that Boxi home appliances has always been an independent operating company. Siemens only plays the role of investor, but does not participate in the traditional modified plastics and operation. This sale is only the equity transfer between Siemens and Bosch at the capital level. Siemens Home Appliances account for only 6% of the revenue of Siemens Group, which has no impact on Siemens' own business

Bosch China responded on the official wechat that the participation of Bosch home appliances will further help the development of Bosch Group's smart home and make the use of home appliances more energy-saving and convenient in the future

in 2013, the revenue of Bossi household appliances reached 10.5 billion euros, making it the largest household appliance manufacturer in Europe. According to AVC data, the domestic market share of Siemens refrigerators was 5.3% in 2014, while the market share of Bosch group was only 0.7% in the same period. The market share of Siemens washing machines in 2014 was 7.3%, while that of Bosch group was only 1.2% in the same period

Bosch's gain is not worth the loss. Gailke, President and CEO of home appliance China (hereinafter referred to as Bosch China), recently said that in response to the acquisition, Siemens brand will still be a very important contributor to the performance goals of Bosch China and the global market in 2025 set by Bosch China, and Bosch China will continue to invest in the research, development and innovation of Siemens brand. This means that Siemens home appliances will not disappear from public view until at least 2025

gelke also revealed that the main reason why Siemens and Bosch Group parted ways was that the two sides had differences in the direction of strategic development

in the past few years, Bosch Group has taken smart home and smart interconnection as an important strategic direction, getting closer and closer to end consumers, while Siemens has gradually focused on B2B businesses such as electrification, automation and digitization, and deviated from consumer terminals

insiders said that for Siemens Group, the transfer of shares and the complete withdrawal from the field of household appliances can be regarded as throwing away the burden and moving forward. At present, many international household appliance giants have begun to give up the relatively traditional field of household appliances. On the one hand, the profit of home appliance industry is meager. On the other hand, whether it is brand or technology, Siemens' advantages no longer exist

focus on the four core businesses

the new CEO Cather faced the crisis directly from the beginning, and he could not avoid the pressure from Siemens' profitability problems. Kaiser said in his first interview that compared with its competitors, Siemens' profit momentum has weakened. But his goal is to let Siemens focus on the core competitiveness of the company, so as to narrow the gap with competitors. As soon as he took office, Katherine announced that he would sell his stake in Nokia Siemens Communication Technology Co., Ltd

Siemens' 2020 Vision New Strategy released in May this year shows that Siemens places its core competitiveness in digital, electrification, automation and other growth areas with long-term potential

in the view of Siemens Group, this is the conclusion based on the in-depth and extensive analysis since August 2013. Siemens can achieve long-term growth and high profits in these fields with its products and unique technology. In the future investment, merger, research and development and other development measures, this old electric giant must make all measures consistent with the future business trend. Selling home appliance business is one of the manifestations of its strategy of focusing on electrification, automation and digitalization

2013 financial report shows that the revenue of Siemens' four major businesses of energy, medical treatment, industry and infrastructure is 26.638 billion, 13.621 billion, 18.586 billion and 17.879 billion euros respectively, accounting for 34.72%, 17.75%, 24.22% and 23.3% respectively. In the third quarter of 2014, Siemens' total revenue was 17.921 billion euros, a year-on-year decrease of 4%. In addition to the growth of infrastructure and urban business of 6%, the three major industries of energy, medical treatment and industry recorded negative growth of 8%, 5% and 1% respectively

therefore, in order to have a better layout in the energy field, Siemens recently announced that it would spend $7.6 billion to acquire all the issued and outstanding ordinary shares of dresser Rand, which is expected to be completed in the summer of 2015. In the global energy related infrastructure market, dresser Rand's business portfolio covers compressors, steam turbines, gas turbines and internal combustion engines. This acquisition will complement Siemens' existing products and businesses, especially in the global oil and gas industry and distributed power generation. Through this transaction, Siemens plans to achieve an annual synergy of more than 150million euros by 2019. In addition, from October this year, Siemens will also significantly adjust its organizational structure, including canceling the level of business areas, merging the existing 16 business groups into 9, and will focus more on industries, energy, buildings, transportation, medical and other fields in the future

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