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LG, Samsung target Europe for built-in kitchen appliances

Published: 17 Apr. 2024, 18:47

PARK EUN-JEE
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LG Electronics' Signature Kitchen Suite showroom at a Milan Design Week exhibition [LG Electronics]

LG Electronics and Samsung Electronics have introduced their newest built-in appliances that cater to the European market, a region dominated by Miele, Bosch and Siemens.

The Korean electronics makers showcased their AI-powered refrigerators, induction cooktops and dishwashers at a Milan Design Week exhibition that runs through April 21.

Visitors browse a Samsung Electronics booth at a Milan Design Week exhibition. [Samsung Electronics]

Despite their high market share across North American and Asian countries, the two tech giants trail in Europe.

LG Electronics President Lyu Jae-cheol set a sales target of 1 trillion won ($723 million) from global markets by 2027, vowing to focus on major retail channels in France, Italy and Spain.

“We will turn the built-in appliance business into a new driver, aiming to have over 1 trillion won in sales in three years,” Lyu said in a press event on the sidelines of the trade show.

The president cited Haier, a price-cutting Chinese manufacturer, as a primary contender due to its attempt to deploy a business strategy similar to that of the Korean companies.

“The company that I keep an eye on is Haier, which installed a booth right next to ours,” he said, “It is increasing its competitiveness by following in the footsteps of LG.”

LG’s built-in portfolio is centered around the Signature Kitchen Suite brand for high-end consumers.

At the exhibition booth, the company displayed its under-counter drawer fridge designed in collaboration with Spanish architect Patricia Urquiola.

Another collaboration invovled Moooi, a Dutch furniture maker, in the production of an air purifier.

Samsung Electronics AI-powered refrigerator is on display at a Milan Design Week exhibition. [SAMSUNG ELECTRONICS]

Samsung also set up several experience zones featuring new refrigerators and other kitchen appliances equipped with bigger displays and AI-enabled functions.

Its Bespoke AI Family Hub comes with a 32-inch touch screen that can stream content and display recipes from the Samsung Food app.

The fridge’s internal camera can detect the import and export of groceries and also track and notify users of approaching "best by" dates.

BY PARK EUN-JEE [[email protected]]