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Home > Biz&Company

Samsung tops in U.S home appliance market despite safeguard

2018.05.09 13:58:27 | 2018.05.09 15:44:41
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[Photo provided by Samsung Electronics Co.]

[Photo provided by Samsung Electronics Co.]

Samsung Electronics Co.’s lead in American white goods market remained unscathed by the U.S government safeguard action on residential washers in the first quarter.

Samsung Electronics secured top rank in the U.S home appliance market in the first three months of this year with a 19.6 percent share, according to data recently released by U.S. market research firm TraQline. It has stayed at the top for eight straight quarters.

In the washing machine category, it accounted for a 20.5 percent share retaining its No.1 ranking for the seventh consecutive quarter.

Samsung said it commanded the largest 28.3 percent in the front-load washing machine, widening its gap with the No.2 by 5.2 percentage points, while its share in the premium category of $1,000 or above washers reached 37.0 percent.

In the refrigerator category, it also retained its top position with a 22.3 percent share thanks to premium lineups such as French-door refrigerator Family Hub.

Its dominance in the washer category came after it was hit by heavy duties and import quota cap on residential washers from February. The company said its decision to pull up the opening date of its new washing machine plant in South Carolina to January has helped it secure stable supply and offset a fall in imports from outside the U.S.

U.S. appliance maker Whirlpool last year filed for a safeguard petition against Korea’s electronics majors Samsung Electronics and LG Electronics Inc., claiming the two Korean companies’ products have hurt its domestic business. U.S. International Trade Commission (ITC) recommended a tariff-rate quota of 40 to 50 percent on imported washers manufactured by Samsung and LG if imports exceed 1.2 million units over the next three years. U.S. President Donald Trump has approved ITC’s recommendation.

To counteract growing trade barriers in the U.S., Samsung and LG built home appliance manufacturing bases in the U.S. Samsung has been running a washing machine plant in South Carolina since January. LG is building a home appliance factory in Tennessee with an aim to kick off operation in the second half this year.

Whirlpool saw its sales deteriorate despite its trade offensive. Its net profit in the first quarter nosedived 62.8 percent to $94 million against a year ago period.

By Lee Jae-cheol and Cho Jeehyun

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]

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