Haier was founded in 1984. In the last 28 years, through its entrepreneurial and innovative spirit, Haier transformed itself from an insolvent collectively-owned factory on the brink of bankruptcy into the No. 1 global home appliance brand. In 2012, Haier’s global revenue and profit reached 25.8 billion USD and 1.42 billion USD respectively. Profit growth was 2.5 times revenue growth. Based on the statistics of Euromonitor International, a world leader in strategy research for consumer markets, Haier has been the No. 1 global home appliance brand four years in a row. On the 2012 “World’s 50 Most Innovative Companies” list released by the Boston Consulting Group, Haier is the only Chinese company in the top 10 and the No. 1 consumer product retailer.