GOME, second-largest electronics retailer by market value in China,
has agreed to sell over $4.43 billion worth of products from Samsung
in China in two years.
This is an RMB30 billion agreement and the biggest of its kind. GOME
was reported by Reuters to have said the agreement will cover the
whole line of home appliances so that includes colour TVs,
refrigerators and washing machines as well as mobile phones and
GOME posted revenues of RMB24.9 billion in the first six months of
2010, up 22% which suggests the market is warming up. As its net
profit rose 66% in the six month period it sees this as plainly the
time to push its advantage.