Published : Feb. 3, 2015 - 19:17
Samsung Electronics, the world’s largest home appliance maker, on Tuesday renewed its upscale push in a bid to widen its lead over soaring Chinese rivals.
Samsung Electronics co-CEO Yoon Boo-keun (left) and figure skater Kim Yu-na, the brand’s commercial model, pose with amsung’s new washer and air conditioner at a media event at the company’s headquarters in Seoul on Tuesday. (Ahn Hoon/The Korea Herald)
“We will offer higher levels of products amid fiercer competition with Chinese producers,” said Samsung Electronics co-CEO Yoon Boo-keun at an unveiling event of the company’s new washing machines and air conditioners at its Seoul headquarters.
He also reaffirmed that the company’s new premium products would be equipped with its own Tizen operating system as part of its strategy to prepare for the industrial adoption of the Internet of Things.
According to Yoon, Samsung’s consumer electronics chief, the company posted a double-digit growth rate in its all household appliance lineup last year when the industry average stood at 3 percent globally.
Sales of washing machines, in particular, saw a staggering 17 percent growth from a year ago, he said, pledging to sell more than 10 million units this year.
On Tuesday, the company unveiled the latest versions of its top-selling Bubble Shot washer and the Q9000 smart air conditioner. The Active Wash, including a built-in sink for soaking and prewashing, also made its Korean debut.
About the company’s slowing profitability in the consumer electronics division in recent months, he said: “We had some panel shortage issues for TVs. And we still need to invest more in the medical equipment and printing businesses.”
“We have injected an annual 70 billion won to 100 billion won into the home appliance business. That also negatively affected our profits over the past three years,” he said, adding that the company would restore profits this year.
He declined to comment on the ongoing legal dispute with LG Electronics that was ignited when some LG staff members were spotted breaking the doors of Samsung’s washing machines at Berlin shops in September.
On Monday, the two companies failed to reach an agreement and decided to bring the case to local courts to settle the dispute.
By Lee Ji-yoon (jylee@heraldcorp.com)