GE Is Now Chinese-Owned—And Its Appliances Are Getting Worse: Mashed

In the ever-shifting world of corporate mergers and acquisitions, even iconic American brands can end up under foreign ownership.

The GE acquisition remains China’s largest overseas electronics purchase to date. I Photo: GE Appliances

One striking example is General Electric (GE), which has been owned by Chinese interests for nearly a decade, Mashed’s Nick Pisano reported.

The acquisition occurred in 2016, when Qingdao Haier finalized a $5.4 billion deal to purchase GE's appliance division. Although Haier also sells products under its own brand, it has a reputation among both experts and consumers as one of the most unreliable appliance brands in the market.

The agreement allowed GE Appliances to remain headquartered in Louisville, Kentucky, and nine years later, the division still operates from there—proof that not everything changes under new ownership.

Still, the revelation that the brand is now Chinese-owned surprises many Americans.

GE has been a household name in the U.S. since the 1890s, tracing its origins to the merger of companies owned by Thomas Edison and other inventors. Over the years, GE has produced everything from electric carving knives to can openers—appliances that today’s younger generations may never have seen.

In contrast, Haier, founded in 1984, is much younger but has grown rapidly, generating more than $55 billion in annual revenue through ownership of brands like Casarte, Leader, and Fisher & Paykel.

The GE acquisition remains China’s largest overseas electronics purchase to date.

However, buyers beware: GE Appliances' current reputation is far from stellar. The company holds just a 1.2 out of 5-star rating on Trustpilot, and its refrigerators score even lower—1.1 out of 5—on ConsumerAffairs.