Samsung sees no immediate impact from Haier's takeover of GE unit
By Kang Yoon-seung
SEOUL, Jan. 25 (Yonhap) -- Samsung Electronics Co. said Monday that Chinese home appliance maker Haier Group's takeover of the household appliance business of U.S.-based General Electric will not have a great impact on its performance over the short term.
In mid-January, Haier said it will purchase GE's home appliance business for US$5.4 billion, with the takeover expected to be finalized around the first half of 2016. Haier, China's second-largest electronics manufacturer, reportedly said that it will maintain the GE brand, however.
"The immediate impact from (Haier's takeover) will likely be not so great," Seo Byung-sam, Samsung's vice president of the consumer electronics business, said in a launch ceremony for its air conditioners and refrigerators. "GE and Haier pursue different goals and our product lineups are different from theirs."
While it is important to keep track of the changing scope of competition, it is also crucial to make fundamental innovations that jump over such shifts, Seo added.
When asked if Samsung has any plans to push for mergers and acquisitions in the home appliances segment, Seo did not give details, but said that the company is open to "all possibilities."
On Monday, Samsung rolled out what it calls the industry's first breeze-free air conditioner that allows users to maintain a steady room temperature.
Samsung said the product, dubbed the Q9500, will appeal to users who wish to avoid direct contact with an air conditioner breeze.
The company also showcased new refrigerators that can control the temperature with a deviation of around 0.5 degrees Celsius, compared to the 1.5 degrees posted by existing models.
colin@yna.co.kr
(END)
-
(Yonhap Interview) Fintech startup AIM aims to bring professional wealth services to ordinary investors
-
N.K. leader declares victory in fight against COVID-19: state media
-
N. Korea appears to release border dam water without prior notice: official
-
7 dead, 6 missing in heaviest rainfall in 80 years
-
(2nd LD) 7 dead, 6 missing in heaviest rainfall in 80 years
-
(Yonhap Interview) Fintech startup AIM aims to bring professional wealth services to ordinary investors
-
7 dead, 6 missing in heaviest rainfall in 80 years
-
(5th LD) 8 dead, 7 missing in record rainfall in Seoul, surrounding areas
-
N. Korea appears to release border dam water without prior notice: official
-
(LEAD) 7 dead, 6 missing in heaviest rainfall in 80 years
-
(LEAD) Another person who disappeared into manhole amid downpours found dead
-
Heavy rain-caused deaths this week rise to 14; 5 go missing
-
(LEAD) Suspended ruling party chief again cries foul over leadership switch
-
(LEAD) New COVID-19 cases down for 3rd day; deaths at over 3-month high
-
N. Korea moves toward pre-pandemic normalcy after declaring victory in COVID-19 fight