Anker the Chinese Company that manufacturers the questionable Eufy security cameras, that have been described as ‘high risk’ after Anker management lied to US journalists is looking to ship more products into Australia while moving up market.

Their  products are distributed in Australia  by Melbourne based distributor Directed Electronics.

Currently Anker is generating more than 90% of its sales outside China, especially in markets such as Australia, USA, & Europe now they want Australians to trust their brand despite their lies to media about the performance of their products.

The Shenzhen based Anker Innovations is best known for its chargers, and cheap headphones now wants to take on the likes of Ecovacs in the vacuum cleaner market as well as several other categories where they believe they can grow their business.

In an online investor briefing last week, CEO Steven Yang said that a large share of Anker’s existing resources can be repurposed as it expands its presence in the electronics market.

Anker’s sales grew 13% last year to 14.2 billion yuan ($2.04 billion). North America made up roughly half the total, Europe about 20% and Japan over 10%, with mainland China at less than 4%. Net profit rose 15% to 1.1 billion yuan.

Recently the company debuted a Mach cordless wet/dry vacuum cleaner through a crowdfunding site Makuake in Japan, but to date has not launched the product into global markets.

The business that manufactures a lot of cheap value products now wants a larger share of the affordable premium and premium markets.

Ayumu Endo, CEO of subsidiary Anker Japan believes that Anker is a “trusted brand” despite their products being slammed by media in several Countries.

The US publication The Verge recently had a run in with the Company over major security issues with their cameras.
See story here.

During COVID lockdowns in China during 2020, the company listed on Shenzhen’s ChiNext startup board, raising about 2.5 billion yuan, most of which has been invested in technology development hubs.

Nikki Asia reports that Anker spent 5.5% of its revenue on research and development in 2018 with the figure climbing to 7.6% in 2022.

Anker’s business methods have become the target for critics with networked security cameras similar to the ones manufactured by Eufy have faced resistance in markets such as Australia and the USA and elsewhere, creating a geopolitical risk to earnings.

Earlier this year Anker was forced to recall thousands of mobile power banks first released in November, citing a design and manufacturing flaw that resulted in several fires.

Directed Electronics have not commented on this story.