Chinese electronics giant Konka to invest $233 mil. to boost white goods output
TOKYO, NNA – Chinese electronics giant Konka Group Co. is planning to invest 1.648 billion yuan ($233 million) to ramp up its white goods production in central China.
The Shenzhen-based group, which produces televisions, mobile handsets, displays and other home appliances, said in a statement last Friday it will soon sign a cooperation agreement for the investment plan with the Xinxiang city government in Henan Province.
The group and its arm Henan Frestec Refrigeration Appliance Co. will allocate 1.02 billion yuan to introduce smart freezer and refrigerator production lines and construct a new plant for those items on a 25.4 hectare site.
The group will spend the remaining sum to build a smart home appliance production base and an office building, the statement said.
Konka Group posted an 80 percent year-on-year jump in white goods sales to 3.829 billion yuan in 2019, accounting for 7 percent of the total group revenue, according to a report by BJNews online.