Samsung aims for growth in home appliance sector

Samsung Electronics Co Ltd wants to replicate its aggressive performance in the smartphone market in the Chinese home appliance sector, company executives said on Friday.

The South Korean electronics giant saw a 59 percent year-on-year growth in the white electronics sector in China during the first six months of this year, doubling the market average, according to Jaesoon Park, CEO of Samsung Greater China.

“We are poised to copy our success in the mobile sector in the high-end home appliance market powered by innovation and our localization strategy,” Park added.

With a 19 percent market share in the first quarter, Samsung is the biggest overseas smartphone vendor in China, outranking Apple Inc, a report from IDC has said.

White electronic sales are expected to grow by 6 percent year-on-year in China this year, beating the global average of 4 percent, said Zhou Qun, head of GfK China, an industry consultancy.

The market share of high-end products, priced at more than 5,000 yuan ($815), represents nearly 30 percent in major Chinese cities, said Zhou.