In response to the advent of the Internet of Things (IoT) era, Samsung Electronics plans to connect all home appliances through IoT by 2020. Xu Bingsan, the minister of Samsung Life and Electromechanical, said that if it is only a follower of a market, there will be no chance of winning. Samsung must innovate and become a leader in establishing market rules.
The Korean media's daily economic report, the consumer electronics (CE) department responsible for Samsung's home appliances, hit a record high of 1.03 trillion won in the second quarter. Samsung's high-end home appliances such as SUHD TV, Chef CollecTIon refrigerator, airless air conditioner, and Add-Wash washing machine, which led to quantum dot technology, let the CE department end up violating the 1 trillion won mark after 7 years of business.
Xu Bingsan pointed out that although the Family Hub refrigerator has been questioned at the beginning of its launch, it has become the new standard in the market. The key is that the Family Hub refrigerator provides a demand that even consumers don't know.
In addition to the B2C market, Samsung also showed its intention to enter the B2B market in 2016. Xu Bingsan said that Samsung has developed a home appliance manufacturing business through the acquisition of Dacor, a US kitchen appliance manufacturer. Ensure market leadership by working with traditional logistics and diverse forms.
In 2009, Samsung acquired Amica, a Polish home appliance company, and acquired US air-conditioning retailer Quietside in 2014, laying the foundation for entering the B2B market. The analysis believes that Samsung hopes to continue to expand its core business in the US market, thus speeding up the pace of mergers and acquisitions.
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