The World: Qingdao - Haier to choose IPG or Omnicom for Olympics task

Haier, the Chinese white goods giant, will choose between Interpublic and Omnicom to handle its creative assignment for the Beijing Olympics.

The company is a major sponsor of the games, which begin in August.

Meanwhile, Larry Rinaldi, Haier's chief marketing officer, confirmed that it had consolidated its media planning and buying business, worth more than $100 million, with Initiative.

Rinaldi said IPG and Omnicom were offering "team concepts" to address Haier's Olympics needs. The company previously worked with WPP's Young & Rubicam until the end of last year.

Haier is seen as one of five Chinese corporations that are poised to break out of their domestic market to become global players, having reinvested profits made as low-cost manufacturers.