Appliance makers to ride intelligence and Internet to glory
By 2020, home appliances will generate annual sales of 2.2 trillion yuan ($339.3 billion) in China. Intelligent appliances will become increasingly popular, according to a report by China Market Monitor Co Ltd, a market researcher and information provider. In the first half of this year, home appliance sales reached 769.7 billion yuan, up 4.3 percent year-on-year, according to CMMC. Its report said in the context of home appliances, Chinese families' purchasing power will be greatly improved due to rise in incomes. The rural market will see rapid growth.
