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Samsung retains No. 1 spot in US home appliance market

By Jie Ye-eun

Published : April 10, 2024 - 15:37

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Visitors explore the newest Bespoke AI home appliance lineup at Samsung Electronics' Bespoke AI media day in New York on April 3. (Samsung Electronics) Visitors explore the newest Bespoke AI home appliance lineup at Samsung Electronics' Bespoke AI media day in New York on April 3. (Samsung Electronics)

Samsung Electronics retained its No. 1 spot in the US home appliance market for an eighth consecutive year, dating to 2016, thanks to strong sales of key household products including refrigerators and washers, industry data showed Wednesday.

According to market tracker TraQline, Samsung notched a 20.9 percent market share based on sales in the US home appliance market in 2023, followed by its crosstown rival LG Electronics with 18.8 percent, GE Appliances and Whirlpool, which secured 17.6 percent and 15.1 percent, respectively, of the market.

Samsung nabbed the top spot in terms of units sold there with 18.6 percent, GE came next with 17.4 percent, followed by LG (16.4 percent) and Whirlpool (16.4 percent).

Additionally, 32 percent of American consumers chose Samsung as the brand they would consider when purchasing home appliances, while 29 percent of local consumers picked LG as their preferred brand, the data showed.

The two Korean tech giants -- Samsung and LG -- have long maintained the No. 1 and No. 2 spots in the US home appliance market.

Compared to a year ago, however, the market shares of both Samsung and LG have slightly decreased from 21.1 percent to 20.9 percent and 19 percent to 18.8 percent, respectively, due to the other two followers’ active business push in the US market.

To further solidify the No. 1 position in the US home appliance market, Samsung plans to introduce various home appliance products and services with upgraded connectivity and usability based on artificial intelligence.

Last week, Samsung unveiled its latest lineup of Bespoke AI products, including washer-dryer combos, refrigerators and vacuum cleaners, all equipped with advanced AI capabilities and seamless connectivity, through media events in Seoul, Paris and New York.

While the Korean tech giant seeks to take a market-tailored approach to each region, Samsung CEO and Vice Chairman Han Jong-hee earlier hinted at a press conference in Seoul that the Bespoke Slide-in Range with AI Home, a multifunctional induction range designed to meet American consumers' diverse needs, would be introduced in the US market.

On the same day, Samsung launched an outdoor advertising campaign in Times Square in New York, featuring a video that highlights the inside features of the new Samsung Bespoke Refrigerator with the AI Family Hub.

Among the 15 products, the Bespoke AI Family Hub refrigerator is equipped with AI that has been trained on 1 million food images to help users manage the freshness of ingredients by monitoring best-by dates and sending notifications when the preset deadline is near.

The Bespoke AI Combo is the latest all-in-one washer-dryer product that uses AI to detect the weight, type and salinity of laundry for washing and provide optimal drying courses.

The camera-installed Bespoke AI steam robot vacuum cleaner has been trained on 1.7 million objects to clean its way through houses, distinguishing a bare floor from a carpeted floor to choose between vacuum and mopping functions.