The total scheduled production of China’s three most popular home appliances – air-conditioners, refrigerators and washing machines – is estimated to total 26.62 million units in September, according to the latest survey
Category Archives: Domestic appliance news,
China’s Midea Cuts Stake in Xiaomi
Midea Group, the world’s biggest maker of home appliances, has pared its stake in Chinese electronics giant Xiaomi to raise funds for its ongoing overseas expansion, according to investment industry experts, who noted that it is a normal part of corporate activity.
Samsung, LG to unveil new AI-powered home appliances at IFA 2024 in Berlin
South Korean tech giants Samsung Electronics Co. and LG Electronics Inc. are planning to showcase various new artificial intelligence-powered home appliances at the IFA 2024 home electronics show in Berlin next month, industry sources said Sunday.
Samsung will present a range of products, including the Bespoke AI Combo, an all-in-one washer-dryer; the Bespoke AI Family Hub, a premium refrigerator product; and the Bespoke AI Steam, a new robot vacuum cleaner product.
The company will also showcase the strength of its AI-powered televisions. The Generative Wallpaper feature in Samsung televisions will recommend background images based on users’ preferences.
LG will unveil a new AI-powered drum washing machine with a reduced width of 25 inches, which is designed to meet the needs of European consumers.The washer features the AI Direct Drive motor, which analyzes the weight, wetness and fabric of the laundry to determine the optimal washing method in order to protect garments.
The company will also showcase the newly launched LG Roboking AI All-in-One robot vacuum and the CordZero A9X All-in-One Tower Combo at the Berlin trade show.
Senior officials from the companies, including Han Jong-hee, vice chairman and head of Samsung’s device experience division, and LG Electronics CEO Cho Joo-wan are known to be planning to attend the event.
Revolutionizing Home Sustainability GEME Debuts the Future of Composting at IFA Berlin 2024
GEME will unveil its newest product, the GEME Terra 2. At IFA, visitors will have the opportunity to experience the latest innovation GEME Terra 2 firsthand, along with the classic GEME-composter and the commercial model RS-BIO-10
GEME, a food waste composter brand, revolutionizes household composting in a trash can. Launched on Kickstarter in 2022, GEME has become the go-to solution for households looking to effortless home composting.
Through the power of natural microbial decomposition and an ion purification system, GEME effectively eliminates odors and pathogens, resulting in a hygienic and efficient composting process.
Terra 2, has a more lightweight design and advanced automation, making it suitable for various kitchen
China’s trade-in policy energizes consumer market
In a significant push to stimulate consumer spending, China has rolled out an expansive trade-in policy across multiple sectors.
From automobiles and home appliances to real estate, the initiative aims to encourage the replacement of outdated goods with newer and more advanced options.
In the home appliance sector, the trade-in program has been well-received.
Beijing resident Yu Qian recently purchased a new refrigerator. “My old refrigerator was outdated. When I learned about the trade-in policy, I decided to upgrade. The model I wanted was originally priced at 8,999 yuan, but with the trade-in subsidy and various discounts from the store, I ended up paying only 7,020 yuan, saving quite a bit of money.”
Zhang Haibo, a sales supervisor at Suning, a major home-appliance retailer in China, echoed that many customers are attracted to the trade-in program, combined with government subsidies, store discounts and brand promotions.
Suning’s data reveals that nearly 40 percent of its consumers have chosen to purchase new home appliances through trade-in programs this year, including air conditioners, washing machines and large-screen TVs.
Tineco launch new cleaners
Tineco, renowned for its innovation in intelligent small home appliances with an emphasis on advanced floor care solutions, has launched the highly anticipated Tineco GO and Tineco GO H2O Series. The series redefines convenience and efficiency in floor care, catering to the needs of today’s busy households.
Tineco GO Series – Lightweight, cordless stick vacuums for everyday cleaning featuring an enlarged dustbin and up to 40 minutes of run time ($199.99 USD/$299.99 CAD).
Tineco GO Pet Series – Designed for pet owners, this powerful cordless stick vacuums features high suction power, ZeroTangle anti-tangle brush technology for hair and debris, built-in sensors that adjust suction in real-time, and an LED light that turns from red to blue when floor is clean ($249.99 USD/$349.99 CAD).
Tineco GO Mini Series – The new Tineco GO Mini vacuums are compact and powerful, ideal for on-the-go cleaning. The Tineco GO Mini Pet includes a mini-power brush for easy cleaning of furniture, stairs, and even cars Tineco GO H2O Series builds on Tineco’s leading innovations in floor washers, offering simultaneous vacuuming and mopping capabilities for faster, more efficient cleaning of hard floor surfaces. These new models feature edge cleaning for better cleaning near walls and corners. Plus, all models have one-touch self-cleaning after use when the unit is returned to its base.Tineco GO H2O Floor Washer: This cordless floor washer offers edge cleaning, plus LED indicators for operating status and battery life,
Tineco GO H2O Sense: This smart floor washer adjusts suction power and water flow via built-in sensors that allow the machine to adapt to cleaning needs. The interactive LED screen provide real-time feedback and cleaning status.
Tineco GO H2O XL: This machine features 50% larger water tanks than the standard models, enabling longer continuous cleaning
LG INTRODUCES NEW ALL-IN-ONE VACUUM CLEANING SOLUTION
LG Electronics (LG) is introducing its brand-new stick vacuum cleaning solution, LG CordZero™ All-in-One Tower Combi, alongside its newest ‘all-in-one’ robot vacuum and mop at IFA 2024. The All-In-One Tower Combi redefines storage, charging and style while making everyday cleaning simpler and more efficient by combining the CordZero A9X stick vacuum with the CordZero R5 robot vacuum. The company’s latest robot vacuum and mop features a comprehensive system that handles floor cleaning, mopping, dust emptying, water refilling and automatic mop washingj
Elica suffers in the second quarter
Elica continues to invest in its future but the present, or perhaps it would be better to say the recent past, does not yet reward the courageous efforts of the Fabriano company. In the first half of 2024, turnover fell by 6.3% but on closer inspection the second quarter (- 4%) went better than the first quarter.
What has improved? Production for third parties (OEM) which grew by 9.3% in the second quarter also in the Engines segment thanks to new customers in America and sales of own brand products also in America. The weakness of demand depresses sales and margins especially in Europe and the Middle East where Elica generates 80% of its turnover. In the Cooking division, own brand sales fell by 10% between the first half of 2024 and that of 2023
“In the ventilation sector, market shares have increased. However, the margin declined from 10% in the first half to 7% in the second half. The company attributes this drop to a negative price mix and intense promotional activity, as stated in their press release. Additionally, the accounts for the first half were impacted by significant investments in rebranding, product repositioning, and participation in Eurocucina. Despite these challenges, the EBITDA decreased from 14 million in the first half of 2023 to 5.1 million in 2024. On a positive note, the margin appears to have improved from 1.5% in the first quarter to 2.8% in the second quarter,
De Longhi results
The Group achieved an expansion in turnover of more than 10% also in the second quarter, benefiting both from the consolidation of the professional coffee area and from the continuation of positive trends in the core categories. Over the last few months, we were able to successfully capitalize on structural coffee market growth, further increasing our market share, as well as meeting consumers’ new needs in the nutrition and food preparation segment, also thanks to the recent launches of new products that are increasingly focused on a consumer approach to a healthy diet”, commented CEO Fabio de’ Longhi. revenues of € 1,423.7 million, up by 10.3% (+3.5% on a like-for-like basis and +4.2% on a like for like
basis and constant currencies);
o adjusted2 Ebitda at € 204.7 million, equal to 14.4% of revenues (compared to 12.4% achieved in the first
half of 2023);
o net income pertaining to the Group of € 106.2 million, up by 28.4%;
o free cash flow before dividends and acquisitions of € 74.3 million.
In the second quarter:
o revenues of € 764.9 million, up by 11.0% (+1.5% on a like-for-like basis, with the household business
excluding comfort segment growing by +6.9%);
o Ebitda adjusted at €110.9 million, equal to 14.5% of revenues (marked improvement from 12.5% in 2023);
Net financial position as of June 30, 2024 was positive by € 305.3 million, after the net absorption of € 326.8
million in relation to the closing of the business combination between La Marzocco and Eversys.
Used appliance business grows in Japan
Japanese shoppers are increasingly turning to used products when shopping for appliances due to the high prices of the latest models. The falling yen has made new iPhones, for example, less affordable for some consumers, leading to a growing secondhand trade in Japan Panasonic sells returned or display models that have been repaired and inspected. They offer a one-year guarantee on home appliances and discounts of up to 20 percent. Additionally, Panasonic leases items through a subscription service and plans to expand the range of products available through this service. The company’s commitment to sustainability is evident in its decision to repurpose products that were previously discarded due to defects, contributing to environmental protection. Similarly, the Hitachi Group and major electronics retailer Yamada Holdings also offer recycled products for sale, with Yamada planning to further expand its offerings by establishing its own repair factory. It’s heartening to see these efforts to promote sustainability and affordability in the consumer electronics market.
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