Market Chatter: Midea Says Recall of Aircon Units in North America Voluntary

MT Newswires Live
10 Jun

Midea Group (SHE:000333, HKG:0300) said its recall of air conditioners in the US and Canada was made voluntarily and was not ordered by regulators, Yicai Global reported Monday, citing the Chinese appliance manufacturing giant.

The company on June 5 recalled 1.7 million units of the U-shaped window air conditioners in the US after users complained of mold growth in their fan blades.

About 45,900 units of the affected units were also sold in Canada.

Midea's Hong Kong shares slipped over 1% in recent trade.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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