Samsung bets on high-end appliances
Samsung Electronics co-CEO Yoon Boo-keun, right, poses with Korean actress Jun Ji-hyun during a launch event for the Chef Collection Refrigerator at the Shilla Hotel, downtown Seoul, Wednesday. Jun is the firm’s public relations ambassador. / Courtesy of Samsung Electronics
By Kim Yoo-chul
Samsung Electronics vowed Wednesday to become the world’s top home appliance manufacturer by next year, saying “white goods” are one of its next cash generators.
“Samsung’s home appliances business grew much faster than the average industrial growth last year,” Yoon Boo-keun, head of Samsung’s appliances division, told reporters.
“We are moving smoothly toward the goal of becoming the world’s top appliance seller by 2015.”
This means the firm will focus on boosting sales of high-end appliances to better compete with U.S.-based Whirlpool and Electrolux of Sweden.
The executive, who has led Samsung’s growth into the world’s leading TV seller in the last eight years, was given a new role to strengthen its appliances business, which is relatively weaker than TVs, memory chips, flat-screens and mobile phones.
“What we should do right now is offer appliances that exactly meet what consumers want. Samsung’s appliances should be useful and convenient. We have no time to hesitate,” Yoon said.
Samsung recently unveiled a “Chef Collection” refrigerator that costs over seven million won with a storage capacity of 1,000 liters, which it says is the world’s largest.
According to Eom Young-hoon, a senior vice president of the firm, the new fridge boasts fairly standard four-door, brushed stainless steel chill chest and a door-mounted icemaker.
Since metals absorb heat quicker than plastic, it helps temperatures stay more consistent when warm items are placed inside.
“Our internal survey shows the demand for premium fridges is rising. Korean consumers tend to purchase high-end fridges. We will push ahead with the ‘two-track’ approach ― affordable models for emerging markets and premium models for developed markets,” Eom said.
“We cooperate with leading European furniture companies to upgrade our fridges.”
He said Samsung agreed with major retailers in the United States to soon start the sale of the Chef Collection fridges. The firm is also in talks with distribution firms in the Middle East to sell the products.
Samsung is now cutting its heavy reliance on smartphones and televisions and shifting its focus to business-to-business (B2B) and appliances segments in order to diversify its revenue sources.