HONG KONG, April 25 (UPI) -- The electronics arm of Chinese appliance manufacturer Haier Group has sold its wireless-phone business to its parent company.
It was confirmed by the companies this week that Haier Electronics Group had signed the purchase agreement with Haier Group late last week with a price tag of more than $54 million.
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China Daily said the Haier phone business was losing money, and the sale was part of a plan to transform Haier Electronics into "the listed flagship of Haier's white goods business."
