Samsung, LG account for 40% of US home appliance market

Visitors to Samsung Electronics’ media day held in New York take a look at the company’s Bespoke AI Family Hub refrigerator, April 3. Courtesy of Samsung Electronics

Samsung Electronics and LG Electronics took up 40 percent of the home appliance market in the United States last year, proving that their technological and product design prowess is more than enough to entice U.S. consumers — known for having some of the highest purchasing power in the world — according to industry data and companies, Wednesday.In the U.S. home appliance market in 2023, Samsung Electronics secured first place with a 21 percent market share based on sales, while LG Electronics took second place with a 19 percent market share, followed by GE with 18 percent and Whirlpool with 15 percent, according to data by market research firm TraQline. Combined, Samsung and LG accounted for 40 percent of the market.In terms of quantity, Samsung also ranked first with a 19 percent market share, followed by GE with 17 percent, LG Electronics with 16 percent and Whirlpool with 16 percent.The two Korean manufacturers also ranked first and second respectively in terms of the brands considered by consumers when purchasing new home appliances, with Samsung at 32 percent and LG at 29 percent. GE and Whirlpool each had 28 percent.Samsung and LG plan to continue expanding their market share in the U.S. by launching new products that enance connectivity and usability based on AI technology.Samsung’s strategy for its 2024 Bespoke home appliances brand includes equipping high-performance AI chips, cameras and sensors to allow consumers to experience various AI functions.

“The Bespoke AI Family Hub refrigerator features AI Vision Inside, which uses an internal camera to recognize ingredients being stocked or removed. The Bespoke AI Combo all-in-one washer-dryer detects the weight, type and level of dirtiness of the laundry using AI. The product also offers a custom AI dry mode that detects the interior dryness to dry laundry in an optimal condition,” Samsung said.Samsung added that its Bespoke AI Steam robot vacuum cleaner offers enhanced floor, object and space recognition capabilities courtesy of its AI technology.”The robot vacuum cleaner uses a deep neural network (DNA) model based on 1.7 million object data, utilizing a frontal camera sensor to recognize and avoid various objects,” the company said. LG, which was the first company in the home appliance industry to emphasize wireless connectivity by equipping Wi-Fi modules in its products in 2011, emphasized that its products’ AI features offer “affectionate intelligence” that is more considerate and empathetic toward users.”LG plans to lead the global AI home appliance market by developing its own on-device AI chip DQ-C for home appliances, applying it to major products to implement affectionate intelligence,” the company said.Based on this, LG plans to expand its market share in AI-based home appliances that provide a better customer experience, including in the U.S. market. “LG’s focus lies in how AI can actually make a difference in the real world, providing tangible benefits to our customers,” LG CEO Cho Joo-wan said at the Consumer Electronics Show in Las Vegas, January.LG is expanding its product lineup featuring affectionate intelligence to air conditioners, washing machines, dryers, styler steam closets, air purifiers, robot vacuum cleaners and 슬롯게이밍 refrigerators.

Leave a Reply

Your email address will not be published. Required fields are marked *