LG Electronics is looking to take artificial intelligence (AI) in the home beyond connected appliances, with caregiving identified as a potential new area of growth.
CEO Lyu Jae-cheol says the company’s Zero-Labor Home vision aims to reduce household chores by getting appliances and connected devices to work together more intelligently.
JD.com Set to Take Control of Ceconomy and MediaMarktSaturn
JD.com is preparing to take control of Ceconomy, the parent company of MediaMarktSaturn and MediaWorld, following the completion of the final approval process.
The Chinese e-commerce group has acquired a 75% stake in Ceconomy, with the remaining 25% retained by the Kellerhals family, founders of the European retail business. The transaction is expected to close on 12 November 2026.
Electrolux Reaches Agreement in Italy, With Job Cuts Limited to Voluntary Departures
Electrolux has reached an agreement with Italian unions and the government on a revised restructuring plan that significantly reduces planned job losses and commits more than €100 million to investment in its Italian operations.
Continue readingFitch Downgrades Arçelik Credit Rating as Financial Pressure Continues
Fitch Ratings has downgraded Arçelik’s long-term credit rating from B+ to B, maintaining a negative outlook as the Turkish appliance manufacturer faces continued financial pressure.
The downgrade reflects weaker demand in Turkey and international markets, increased price competition and rising operating costs. These factors have put pressure on profit margins, increased borrowing requirements and weakened the company’s financial position.
Alfa Forni launches EVO hybrid outdoor oven
Alfa Forni launches EVO hybrid outdoor oven
Italian manufacturer Alfa Forni has launched EVO, a new domestic oven designed for its Everything Outdoor range, targeting the growing outdoor kitchen market.
Whirlpool Faces Continued Margin Pressure
Whirlpool reported a challenging third quarter for 2026, with falling sales and weaker earnings highlighting the continued pressure on the global home appliance market.
Net sales fell 8.8% year on year to $3.68 billion, while ongoing EBIT declined 46.1% to $97 million. The ongoing EBIT margin dropped to 2.6%, compared with 4.5% in the same period last year.
Continue readingFreshness is no longer defined solely by cooling. It is increasingly defined by intelligence.
Haier’s recent advances in refrigeration technology illustrate a clear evolution in the category. The refrigerator is progressing from a passive cold-storage appliance into an active food-management system capable of monitoring contents, adjusting conditions with precision, and supporting households in reducing waste while extending food quality.
Continue readingEU Approves Daniel Kretinsky’s Takeover Bid for Fnac Darty
The European Commission has approved Daniel Kretinsky’s proposed takeover of French retail group Fnac Darty, clearing the final major regulatory hurdle for the acquisition.
The Czech billionaire’s investment company, EP Group, is offering €35 per share, with the aim of increasing its existing 28.5% stake to more than 50%. The move is expected to cost approximately €230 million.
Cyber-Attack Hits Commercial Fridges and Freezers in Six European Countries
Around 40 Delhaize supermarkets in Belgium and Luxembourg, plus smaller numbers of shops in Sweden, Ireland, the Netherlands and Estonia, had their fridges and freezers hit by a suspected cyber-attack on 2 November. The units were switched into defrost mode, pushing temperatures as high as 50C and forcing stores to throw away food, in some cases worth €100,000 or more per shop.
Continue readingLG Home Appliance Profits Fall Despite Subscription Growth
LG Electronics maintained home appliance revenue above KRW 7 trillion for the second consecutive quarter in Q3 2026, although operating profit came under pressure.
The company’s Home Appliance Solution division reported revenue of KRW 7.04 trillion and operating profit of KRW 259.2 billion. Higher logistics and marketing costs contributed to the pressure on profitability.
