Samsung Electronics Co. will revamp its air-conditioner business to gain more market share and become a major global maker, officials said.
Lee Moon-yong, executive vice president of the Digital Appliances Division, said the company will strengthen research and development efforts and begin aggressive marketing to become a top-tier manufacturer of air-conditioners.
Lee addressed about 500 officials and Samsung home appliance dealers at an event in Seoul to showcase new models for 2005.
Lee said Samsung will focus on system and high-end air conditioners, including the built-in market, in view of the likelihood that low-cost Chinese products will soon dominate traditional models like window-mounted air-conditioners.
The company is also set to strengthen the service quality at its retail outlets, which will be renamed System Hauzen, after the brand name of Samsung's air-conditioner.
Currently, LG Electronics Inc., said to be Korea's second-largest electronics company after Samsung, is the undisputed leader in the global air-conditioner market with 16.2 percent share, according to Japan's Fuji Research Institute. LG is trailed by Matsushita Electric Indusrial Co., which is in second place, and Samsung stands at fifth.
Samsung recently unveiled 82 new models, including a model that cuts cooling time by 30 percent and electricity costs by 25 percent. (The Korea Herald)
Back to Breaking News