Samsung aims to rule appliance market

Samsung Electronics President Yoon Boo-keun speaks during a launch event of its latest FS9000 refrigerator in Seoul, Thursday. / Courtesy of Samsung Electronics

By Kim Yoo-chul

Samsung Electronics said Thursday that it will become the world’s biggest manufacturer of home appliances by 2015 by increasing its sales to $20 billion.

``We will rise as the world’s top producer in home appliances such as air conditioners, fridges and washers. Samsung plans to steadily roll out premium models, not budget ones,’’ said Yoon Boo-keun, president of the firm’s consumer electronics division, at a news conference Thursday.

Yoon spoke on the sidelines of an unveiling of new home appliances including vacuum cleaners he was participating in.

Samsung is the world’s top maker of TVs and the biggest supplier of memory chips and flat-screens but it has lagged behind in home appliances.

``Samsung aims to earn $20 billion in revenue by the end of 2015 at the latest. We expect the global demand for white goods to rise by 2 to 3 percent this year,’’ said Yoon, adding his company will actively respond to consumer needs by releasing customized items.

``We have been gradually increasing the breadth of our home appliances offered in major markets, with key items such as dishwashers coming into the range last year. We are still in the process of finding strong partners to work with like Electrolux and Whirlpool’s hook-up with IKEA.’’

Yoon, one of the most-trusted executives inside Samsung, didn’t identify who are key rivals in the market.

``But I can say I haven’t seen much advancement in their technology and we would bring a fresher perspective to the industry.’’

Yoon said it will apply a so-called ``two track’’ strategy in products, and means to introduce price-competitive models.

``We will awake idling demand for home appliances by strategically launching some budget models,’’ he told reporters.

The Korean electronics heavyweight has also been applying premium technology across its appliances range such as brushless motors that reduce friction and decrease noise while increasing product lifetimes.

``We will also expand our service centers to better match our proposed increase in market share,’’ stressed the executive.