Viomi Reinforces Focus on Water Purification, Taps Former A.O. Smith Executive Qi Chen to Lead New Strategic Unit
Portfolio Pulse from Benzinga Newsdesk
Viomi Technology Co., Ltd (NASDAQ:VIOT), a leading IoT@Home company in China, has announced the creation of a strategic business unit (SBU) focused on water purification. The company aims to leverage its R&D and manufacturing capabilities in this area. Viomi has appointed Qi Chen, a former executive of A.O. Smith (China) Water Heater Co., Ltd., as president of the new water purification SBU. Chen brings extensive experience from the water purification industry and sales management in FMCG corporations.
November 24, 2023 | 7:17 am
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Viomi's focus on water purification with the establishment of a new SBU and the appointment of Qi Chen as its president could strengthen its market position and signal growth potential in this segment.
The formation of a strategic business unit for water purification and the hiring of a seasoned industry executive like Qi Chen could be seen as a positive development for Viomi. It suggests a commitment to expanding and improving its product offerings in the water purification market, which may be well-received by investors. The impact on the stock price could be positive in the short term as the market reacts to the potential for enhanced competitiveness and growth in a specialized segment.
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