Samsung, LG Expect Home Appliance Sales to Rise

Samsung Electronics Co. and LG Electronics Inc., South Korea’s top two consumer electronics makers, said Tuesday that their home appliance divisions are expected to report brisk sales over the next few years, driven by demand for premium and environmentally friendly products.

Samsung’s home appliance division is targeting to roughly triple annual sales to $30 billion by 2015 from more than $10 billion in 2010, said Hong Chang-wan, head of Samsung Electronics’ digital appliance business.

Meanwhile, LG said it aims to achieve $20 billion in home appliance sales by 2014. While LG didn’t provide sales figures for 2010, the conglomerate had said the division reported sales of 9.541 trillion won ($8.5 billion) in 2009.

The global home appliance market is expected to grow to around $300 billion by 2015, and Samsung hopes to grab a 10 percent market share, Mr. Hong told reporters at the launch of a new Samsung air-conditioner.

Read the rest of this post on the original site

Must-Reads from other Websites

Panos Mourdoukoutas

Why Apple Should Buy China’s Xiaomi

Paul Graham

What I Didn’t Say

Benjamin Bratton

We Need to Talk About TED

Mat Honan

I, Glasshole: My Year With Google Glass

Chris Ware

All Together Now

Corey S. Powell and Laurie Gwen Shapiro

The Sculpture on the Moon

About Voices

Along with original content and posts from across the Dow Jones network, this section of AllThingsD includes Must-Reads From Other Websites — pieces we’ve read, discussions we’ve followed, stuff we like. Six posts from external sites are included here each weekday, but we only run the headlines. We link to the original sites for the rest. These posts are explicitly labeled, so it’s clear that the content comes from other websites, and for clarity’s sake, all outside posts run against a pink background.

We also solicit original full-length posts and accept some unsolicited submissions.

Read more »