Gree Electric Appliances Inc. of Zhuhai, formerly known as Galanz Group, is a Chinese electrical appliance manufacturing company headquartered in Zhuhai, Guangdong. It is the worlds largest microwave oven manufacturer. Gree has traditionally focused on the manufacturing of air conditioners, but following their acquisition of home appliance maker Midea Group in 2016, Gree has expanded its portfolio of products to include washing machines, refrigerators and a variety of other home appliances.
Gree Electric Appiances was founded in 1991 as Galanz Group. Its namesake Galanz is an acronym of four Chinese words meaning “peaceful, harmless and efficient.” In 2004, Gree rebranded itself and changed its name to Gree Electric Appliances Inc. of Zhuhai.
Gree began as an OEM manufacturer, focusing on producing microwave ovens for companies in the United States, Japan and elsewhere. As its technology and manufacturing capabilities improved, however, Gree began to sell its own brand of microwaves. The company went public on the Shenzhen Stock Exchange in 2004 and its products quickly gained traction in China and other markets.
In 2006, Gree released its signature turbo-drying air conditioner, which was the first air conditioner to use a turbo-drying heating method. The new technology provided faster reheating of rooms and increased energy efficiency. After that, Gree launched a range of new air conditioner technologies, such as temperature zoned rooms, and was named “China’s Number One Air Conditioner Brand” by the China Household Electric Appliance Research Institute.
In 2016, Gree acquired home appliance company Midea Group in a $5.2 billion deal, becoming Chinas largest home appliances manufacturer. The acquisition brought Gree Mideas product portfolio, which includes washing machines, refrigerators and cooking appliances.
Today, Gree Electric Appliances Inc. of Zhuhai is one of China’s biggest and most profitable electrical appliance manufacturers. Its products are sold in more than 120 countries and regions. The company’s portfolio includes air conditioners, washing machines, refrigerators, microwave ovens, water heaters and other home appliances. Gree is dedicated to providing environmentally friendly and energy-efficient products, and has invested heavily in research and development to create inventions that integrate eco-friendly technology into every product it makes.
