Pacifica, a prominent independent provider of UK domestic appliance repairs and extended warranties in the major domestic appliance (MDA) market, has announced impressive financial results for the year ending 31 March 2024. The company achieved revenues of £36.1 million, up from £34.5 million the previous year.
Gross profit increased to £11.7 million, with the gross margin improving to 32.5%. Additionally, EBITDA saw a significant 22% rise, reaching £1.1 million
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Gree Electric has developed its own chips,
Chinese home appliance manufacturer Gree Electric has developed its own chips, Chinese local media reported on Monday citing its chairwoman, six years after the firm embarked on efforts to do so.
Dong Mingzhu, told news portal Sina.com that the company had achieved capabilities in chip research, design, and manufacturing, all without funding support from the Chinese government. She did not detail what kind of chips Gree was now able to make.
In 2018, Gree set up a subsidiary to design chips for air conditioners and the company announced that it wanted to move into making more smart home products. At the time, Dong said that Gree spent 4 billion yuan ($549.45 million) a year on buying chips for its air conditioners.
Arçelik to close factories
Arçelik, which has now decided to close its 3 factories in Italy after Poland, is increasing its production volumes in Turkey while investing in Egypt.In a recent statement regarding the €110 million investment plan in Italy, it was mentioned that “As outlined in our company’s special situation statement dated November 7, 2024, negotiations are ongoing with the Italian Ministry of Companies and Made in Italy (Ministero delle Imprese e del Made in Italy) and other relevant authorities, national and regional unions, and employee representatives to evaluate the long-term sustainable transformation plan for our Italian operations.”
The statement further elaborated:
“Our goal to establish Italy as a strategic hub for industrial design and the cooking appliances category remains steadfast. We plan to invest €110 million in our Italian operations in the coming periods. Carinaro is expected to continue as the center for spare parts and renovation. To enhance profitability and efficiency, we aim to rescale some production operations related to the laundry and cooling categories in Cassinetta, Siena, and Comunanza. Additionally, we will initiate industrial transformation processes in certain areas and evaluate all strategic options, including potential disposals. Regardless, production in these factories will continue until the end of 2025.
The Ministry and union representatives have expressed their views on safeguarding local employment and have requested a re-evaluation of the submitted proposals. Negotiations will continue with unions and employee representatives for the approximately 2,000 employees expected to be impacted by this process across all our operations in Italy.”
The Impulse Cooktop has been named one of TIME’s Best Inventions of 2024.
The cooktop is powered by a 3kWh lithium ion phosphate battery that can run alone or alongside wall power. That extra oomph gives the induction stove “five times more performance than gas stoves,” says CEO Sam D’Amico. It can boil water in 40 seconds and provides the user with far more control over stove temperature, thanks to a precise digital readout.
Superior power density with a long lifespan and no maintenance. Enjoy a 10-year warranty and simple, modular replacements.
LG Opens ThinQ API to Foster Smart Home Innovation
LG Electronics (LG) has fully opened the Application Programming Interface (API) of its smart home platform, LG ThinQ, enabling developers to easily create smart spaces with LG appliances.
Recently, LG launched the LG Smart Solution API Developer website (smartsolution.developer.lge.com) to officially open up the LG ThinQ API. An API acts as a digital connector that allows different software to exchange functions seamlessly. Developers can utilize the open API to integrate various features from LG AI appliances into their programs or systems, enhancing their services.
The LG ThinQ API is divided into two categories: the ThinQ API for individual users and the ThinQ Business API for corporate partners. The ThinQ API allows for remote control of LG devices installed in homes or buildings and facilitates integration with various platforms.
For individual users, the ThinQ API supports the control and monitoring of AI appliances registered in the LG ThinQ app from various smart home platforms. By utilizing the ThinQ API, anyone can easily create a customized smart home that fits their lifestyle. For example, users of the global smart home platform Home Assistant can now connect and control 26 types of LG AI appliances, including refrigerators and washing machines, within their existing smart home environment. Home Assistant is a community-based open platform with about one million users worldwide who collaboratively develop various smart home functions such as device automation and feature expansion.
For enterprises, the ThinQ Business API supports partners operating office or residential buildings in integrating and managing various LG products, from appliances to commercial equipment like HVAC and signage, with their existing apps. For instance, large residential buildings can integrate LG appliances with their existing management apps for more convenient use. Residents can reserve the use of LG washers and dryers in common areas through the building management app, or administrators can detect abnormal conditions in the building using LG’s temperature and humidity sensors and quickly respond to issues through alert functions.
Ferre Brand Shines at EspritMeuble
The Ferre brand made a notable appearance at the EspritCuisine section of the EspritMeuble 2024 trade fair, showcasing an impressive range of kitchen appliances. Visitors were introduced to Ferre’s microwave ovens, table-top and freestanding cookers, built-in hobs, built-in ovens, and extractor hoods. With its own production facilities, Ferre offers a diverse array of products, featuring registered designs and patents tailored to meet various needs. The brand’s slogans, “For kitchens with style” and “Let your mood change with the Ferre extractor hood,” perfectly encapsulate its innovative spirit.
**Pride and Enthusiasm**
“Our participation in EspritMeuble, which gathers industry leaders and technology enthusiasts from around the globe, was a fantastic opportunity to present our latest products and receive valuable feedback. The experience filled us with pride and excitement,” said Barkin Ayata, Regional Export Manager. A highlight of the event was the introduction of the new Ferre FryArt, an innovative appliance that functions both as an oven and a hot air fryer, allowing for oil-free frying.
With over 45 years of experience, Fema Group continues to lead in development and innovation. Employing over 1,000 specialists, the company exports to five continents and more than 100 countries. Fema Group’s effective communication strategy and commitment to customer satisfaction ensure smooth order processing, even in the most remote areas, supported by branches in Istanbul and Kayseri. The group is involved in every stage, from design to after-sales service, including R&D and production.
Miele experience centre London
Premium appliance brand Miele has announced the opening of a new Experience Centre on London’s Wigmore Street, scheduled for March 2025. This new location will replace the current Experience Centre at Cavendish Place, offering a modern space for customers and retail partners to explore Miele’s full range of products. The new centre will feature live cooking demonstrations, product insights, and Kitchen Discovery Classes, providing a comprehensive and immersive experience for all visitors.
Currys results
Currys has recently highlighted the significant impact of Labour’s tax policies on its financial performance. In its half-year results for the six months ending 26 October 2024, the company estimated that these tax changes could cost up to £32 million.
This figure includes a £9 million increase due to National Living Wage hikes, a £12 million rise in National Insurance contributions, £2 million from inflation-based business rate increases, and up to £9 million in costs passed on from suppliers.
To mitigate these pressures, Currys plans to implement cost-saving measures such as process improvements, automation, offshoring, outsourcing, and overhead efficiencies. However, some price increases are expected to be unavoidable.
Despite these challenges, Currys reported a strong financial performance for the period. Adjusted earnings before interest and tax rose by 52% to £41 million, and group free cash flow increased to £50 million, up by £46 million. Revenue grew by 2% on a like-for-like basis, and the company ended the period with a net cash balance of £107 million.
CEO Alex Baldock expressed optimism about the company’s progress, noting significant growth in profits and cash flow, and a robust balance sheet. He highlighted the company’s preparedness for the peak trading period, with strong stock levels and competitive deals. Baldock also pointed out the rising demand for AI laptops, where Currys holds over 75% market share in the UK.
Looking ahead, Baldock remains confident in Currys’ ability to continue its growth trajectory, despite the new challenges posed by government policies. He emphasized the company’s focus on maintaining high levels of colleague engagement, increasing customer satisfaction, and growing cash flow for shareholders. Baldock also expressed gratitude to the Currys team for their hard work and dedication in driving the company’s success.
V-ZUG new chief executive
V-Zug appointed Christoph Kilian as new chief executive officer to succeed Spirig at the start of April. The Board of Directors of the V-ZUG Group would like to thank Peter Spirig for his achievements and outstanding commitment. Under his leadership, the V-ZUG Group has made significant progress, including the successful spin-off from the Metall Zug Group and the establishment of V-ZUG Holding AG as an independent, publicly listed company. The comprehensive, successful site transformation in Zug and the international positioning of the V-ZUG brand in all markets were further milestones in recent years
Miele New Guard
Miele celebrate its 125th anniversary, Miele is presenting its new generation of cylinder vacuum cleaners. Called Guard, it provides precise, elegant cleaning solutions that are tailored to each user. The “Always Better” philosophy is now available from entry-level to high-end. We were able to discover it at the Miele Experience Center in the 8th arrondissement of Paris.
“We have been manufacturing vacuum cleaners since 1929. Major milestones have marked its development, including the arrival of an English brand on the market, that of upright vacuum cleaners, robots and wet & dry. Today, we are talking about a product that remains a must-have for floor care ,” announced Thomas Bourgeois , Marketing Director, during his introductory speech.
In recent years, vacuum cleaner sales have indeed evolved towards greater practicality. While the cylinder vacuum cleaner represents 34% of the vacuum cleaner market weight in volume, Miele has a 26% market share in the cylinder vacuum cleaner with bag. In a declining market, the premium brand has achieved growth of 4%. “Our objective is to remain the preferred brand of the French in the premium segment, through satisfactory, qualitative and fast cleaning experiences” , specifies Karen Lemonnier , head of the PEM category. It is now arriving with a new generation of cylinder vacuum cleaners with bags.
An upgrade in functionality and design
The Guard S1 , the most compact and accessible in the range, is aimed at consumers looking for a lightweight and affordable vacuum cleaner. Available from €199.99 excluding VAT, it weighs only 4.1 kg and offers a range of 10 meters with 4 suction modes. Available in 6 attractive colors, it includes an SBB 355 brush and an AirClean filtration system.
An intermediate model with a monochrome design, the Guard M1 is positioned as the versatile option offering more capacity. Sold between €299.99 and €399.99 excluding VAT, it stands out for its robustness and completeness. Weighing 5.2 kg, it offers a range of 11 meters with three intuitive control buttons. An SBB 365 or FlexTeQ brush accompanies this model, which also includes three integrated accessories.
The Guard L1 crowns the range with its three high-end versions. Sold at €599.99 excluding VAT, the Comfort model (the highest range) benefits from five suction modes, a HEPA filter that eliminates 99.999% of viruses and intelligent Miele@home connectivity. Its brush offers a more ergonomic, comfortable and pleasant cleaning experience. Added to this is an automatic mode with an all-terrain brush that adapts to each type of floor. “Some vacuum cleaners are aimed at more specific needs and integrate brushes dedicated to parquet for fragile floors. In this case, the price positioning is higher. To meet demand, each of our ranges integrates these versions” , underlines Karen Lemonnier.
These vacuum cleaners share common features: a neat design, optimal performance with hygiene at the heart of its concerns and an environmental commitment through the use of recycled plastics in the bags. All these devices also offer three accessories: a crevice tool, a cushion nozzle and an upholstery brush. Through sustainable and innovative solutions, Miele confirms its position as a major player in premium household appliances.
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