Core Insights - The Vietnamese refrigerator market, previously dominated by Japanese and Korean brands, is experiencing a shift with Chinese brand Haier leading the charge [1][2] - In the first five months of 2025, the overall Vietnamese refrigerator market declined by 5.1%, while Haier's sales surged by 22%, achieving a market share of 21.9% and ranking second in the industry [1] Industry Overview - The Vietnamese refrigerator market has been characterized by a long-standing dominance of brands like Samsung, LG, and Panasonic, which have relied on technological advancements and established distribution channels [1] - The market is currently facing challenges such as slow product updates and severe homogenization, which do not meet the diverse needs of consumers [1] Company Strategy - Haier's success in Vietnam is attributed to its commitment to global branding while focusing on local market needs, including climate, dietary habits, and family structures [1] - The Haier TM700 series refrigerator exemplifies this strategy, featuring design elements tailored to tropical climates and local consumption patterns, such as dual water dispensers and ice-making modules [1] - The TM700 series also includes innovative features like dual MIGIC temperature zones for precise food storage and privacy modules for multi-generational households [1] Product Innovation - The TM700 series refrigerator has a modern aesthetic with a continuous handle and interactive breathing light, enhancing user convenience and appealing to younger consumers [2] - This product has not only achieved sales of over 50,000 units in Vietnam but has also expanded into markets across Southeast Asia, the Middle East, Africa, Australia, Europe, and South America [2] Globalization and Localization - The rise of Chinese refrigerator brands in Vietnam highlights the importance of deep localization as a foundation for successful globalization [2] - The best global products are those that deeply understand and cater to local user needs [2]