General Electric is selling its appliances business to Chinese company Haier.
In a press release, GE says Haier bought the appliances arm of the company for $5.4 billion. (Video via General Electric)
While Louisville, Kentucky, will remain the appliances headquarters, GE hopes the decision will help it globally. (Video via General Electric)
As part of the deal, Haier gets to keep using the GE Appliances name, something GE hopes will grow the overall brand in China. (Video via Haier)
GE says business was doing well for appliances and the sale will help GE investors. (Video via Haier)
The companies expect the transaction to close mid-2016. (Video via General Electric)
This video includes images from Getty Images.
