LG Electronics said Friday it predicted its first-quarter operating earnings at 1.5 trillion won ($1.14 billion), which will likely be the company’s second-highest profit for the January-March period, outpacing Samsung Electronics’ financial result for the first time in more than a decade.Details on each business sector’s estimated figures were not available in Friday’s earnings guidance, but market watchers expect that LG’s key business divisions for home appliances, TVs and vehicle components put up solid results in the January-March period.
Category Archives: Brand’s
Euronics show
The CIH Euronics Showcase, an exclusive event for CIH members, Euronics agents, and participating brands, is set to take place at the NEC in Birmingham on April 23rd and 24th, 2023. The event aims to help members and agents succeed in the current challenging retail environment by providing the opportunity to see the latest products a record number of companies, over 40 brands, will be exhibiting at the showcase, with a diverse range of products including domestic appliances, Beko; Blomberg; CDA; Liebherr; Haier; Hoover; Hisense; Creda; ASKO; Vax; Dyson; Product Care Group; Caple; Rangemaster; Bosch; Neff; Siemens; Rangemaster; Whirlpool; Hotpoint; LG; Sony; Smeg; Shark/Ninja; AEG; Samsung; plus many others
De’Longhi Cambodia experience
De Longhi are to open a new store experience in Phnom Penh, Cambodia. Something is brewing in Phnom Penh, and you don’t want to miss it! Delonghi is bringing something special to the city, something that will change the way you start your day in Phnom Penh . Stay tuned for more updates
Miele UK electric ID Buzz
Miele UK are delighted to announce that we’re one of the first companies in the UK using the new, all electric ID Buzz of Volkswagen Commercial Vehicles UK in our service fleet!
Having the ID Buzz as part of our award winning service fleet, not only reliably brings our service technicians to our customers, but also supports us in converting our vehicle fleet to renewable energies. This is an important step towards our global goal of reducing the CO2 emissions of our fleet by at least 30%, by 2030.
The first Miele ID Buzz was handed over today at our head office in Abingdon, by Dave Smerling from Volkswagen Group Fleet International, to Miele Service Tech
CEVA Logistics: three-year storage and distribution agreement with Haier Europe
CEVA Logistics obtained a 3-year contract to provide logistics and distribution services to Haier Europe. The company will be responsible for the warehousing and handling activities for both the B2B and B2C lines, dealing in particular with the entry and exit of goods, the stock management and the order preparation. CEVA Logistics will handle approximately 500,000 outgoing pieces and 500,000 incoming pieces within its 165,000 square meter logistics hub located in Somaglia (Italy), of which approximately 40,000 dedicated to Haier Europe.
New hq for BSH Elettrodomestici Italy
BSH Elettrodomestici has a new headquarters. The Italian branch of BSH has moved to the via Marcantonio Colonna complex which houses the other branches of the Bosch group. The inauguration was attended by Enrico Hoffmann , CEO of BSH Elettrodomestici and the Chief Financial Officer Karsten Traeger Everything is declined in the BSH Corporate styling and colors with a strong presence of natural elements that recall the Group’s commitment to sustainability. The large break area, equipped with our appliances, is pleasantly convivial with conversation corners reserved and welcoming at the same time. The different meeting rooms are dedicated to our brands and to the most famous areas of Milan,
Bluestem Group Acquires Ewbank Products Ltd
Historic British floorcare manufacturer, Ewbank Products Ltd, has been acquired by electrical appliance company, Bluestem Group.
The origins of Ewbank date back to 1864 when the business, then known as Entwisle & Kenyon Limited, manufactured water meters; later producing washing machines and mangles. In 1889 the first Ewbank carpet sweeper was launched in the United Kingdom.
Bluestem Group licenced the Ewbank brand for the UK in 2019. Since then, they have launched an extended range of corded and cordless vacuums, hard floor cleaners and outdoor appliances. Following the successful partnership with Ewbank to develop the brand in the UK, the two businesses agreed to an acquisition deal for the UK entity and the worldwide trademark, which completed in February 2023.
Electrolux rumours
There have been rumors about the sale of the Swedish company for some time now
“we don’t comment on rumors,” Electrolux PR manager Paul Palmstedt told the Swedish financial publication Privata Affaerer .
Chinese company Midea had been rumoured to be interested
Electrolux is not sailing in good waters at the moment. It loses on the North American market and does not gain on the European one which is suffering from weak demand. Things are going better in the professional segment and partly in the built-in segment, sure, but the cost base is high and making margins isn’t easy.Midea has repeatedly stated that it sees its future in high value-added productions such as advanced robotics and automotive. It is said that you intend to invest money and intellectual resources in a business like ‘white’ which will be stagnant in the next few years at best.Electrolux collaborates with Midea in China to promote AEG without the need to exchange shares. One can think of a partial entry of Midea into the shareholding structure of Electrolux, or of joint ventures for the marketing in Europe (and in the USA) of products made by Midea but conceived and sold by Electrolux.
Italian Smart Home market is growing
The Internet of Things market in 2022 in Italy will reach 770 million euros, +18% on the previous year, the best growth in Europe. The boost comes from energy costs: the best-selling connected devices were connected boilers, thermostats and air conditioners, with a total cost of 155 million. This is followed by security solutions (150 million), large connected appliances (140 million) and finally smart speakers (137 million).
Philips Domestic Appliances becomes Versuni
Philips Domestic Appliances becomes Versuni release.
The new company name is an important step following the agreement to divest the Domestic Appliances business by Royal Philips in September 2021 and the subsequent sale to Hillhouse Capital, a global investment firm
New company name inspired by the company’s mission to turn houses into homes
Amsterdam, the Netherlands – Today, Philips Domestic Appliances has announced the change of its company name to Versuni. The new name is the next step after the Domestic Appliances business became independent in September 2021. Although the visual identity of the company is changing, its mission to turn houses into homes remains constant. As a licensee of Royal Philips, the company will continue to use the Philips consumer brand, as well as Saeco, Gaggia and Philips Walita, on its products and services. Consumers can also continue to use products of its other brands: Preethi, L’OR Barista and Senseo.
“Versuni begins a new chapter after we moved forward as a standalone company”, said Henk S. de Jong, CEO of Versuni. “We are committed to delivering the best possible solutions for our consumers and customers and will continue to excite with innovations that make life at home better, easier and healthier. And as we continue our journey as Versuni, expanding on our market leadership and exploring new opportunities, we are privileged to help consumers turn houses into homes.”
About the new company name
Philips Domestic Appliances has a simple, powerful and consistent mission: turning houses into homes. This will continue to be the mission of Versuni. It is this mission that has been the inspiration for the new company name, a name based on two words that reflect the meaning of home to many people. Versuni puts a new spin on the powerful word – UNIVERSE. The company believes that home is about having a place that you can truly call your own. Versuni also speaks to the word UNIVERSAL. Because no matter where you live, we all have a need for home.Versuni, which is headquartered in the Netherlands, is active in more than 100 countries, and has a global innovation, manufacturing, and commercial footprint. With more than 900 patents on its name, the company’s portfolio spans kitchen appliances, coffee, climate care, garment and floor care.
The company has launched a wealth of successful household products that meet the changing needs of the consumer and deliver best in class innovation. These include the Philips PerfectCare Elite Steam Generator which has enabled consumers to iron at twice the speed, the Philips Air Purifier to breath cleaner air at home, the Philips SpeedPro Max Vacuum Cleaner which incorporates revolutionary wet and dry cleaning, and the Philips Fully Automatic Espresso Machine with LatteGo, the Saeco Xelsis Suprema and L’Or Barista and Senseo® to enjoy different types of coffee every day.
As Philips Domestic Appliances, the company also brought the Airfryer category to market and successfully rolled-out innovations such as the Philips Air Cooker 7000 Series, delivering great taste and nutrition via a connected app, and the Philips AquaTrio Cordless Wet & Dry Vacuum 9000 Series that cleans any floor type and mops your hard floors as it vacuums.
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