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Samsung Sees Pandemic-Led Appliances Boom Extending Run to Rest of Year
Samsung is also in the process of adding new lines in most factories to meet rising demand. By Reuters | Updated: 12 May 2021 12:40 IST
Higher personalisation has led Samsung to increase subcontractor outsourcing similar to the auto industry
Highlights
Samsung saw first-quarter home appliance sales jump in all markets
Samsung is globally expanding its Bespoke brand customised appliances
A pandemic-driven boom in home appliance sales will last longer than previously anticipated and extend into the second half of the year, Samsung s head of the business said.
Lee Jae-seung, president of the South Korean company s digital appliances business, told Reuters in an interview that he had originally expected the boom to subside after the first quarter of this year.
Samsung sees pandemic-led appliances boom extending run to rest of year Reuters 2 days ago
By Joyce Lee
SEOUL (Reuters) - A pandemic-driven boom in home appliance sales will last longer than previously anticipated and extend into the second half of the year, Samsung Electronics Co Ltd s head of the business said.
Lee Jae-seung, president of the South Korean company s digital appliances business, told Reuters in an interview that he had originally expected the boom to subside after the first quarter of this year.
But extended travel restrictions despite vaccine rollouts and consumers being flush with cash due to economic stimulus measures of governments plus limited spending avenues for them had stretched the boom, Lee said.
SAMSUNG ELECT LTD(F) (SSNLF) - Samsung Predicts Pandemic Induced Digital Appliance Business Boom Till 2021 End: Reuters benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.