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(LEAD) Samsung retains No. 1 market share in U.S. home appliance market in 2017

All Headlines 17:23 January 28, 2018

(ATTN: UPDATES with more details in paras 3, 6-7)

SEOUL, Jan. 28 (Yonhap) -- Samsung Electronics Co. retained its No. 1 market share of the large U.S. home appliance market for the second year in a row in 2017 thanks to strong sales of its refrigerators, washers and cooktops, industry data showed Sunday.

According to U.S. market researcher TraQline, Samsung market share in key household products stood at 19.5 percent of all consumer appliances sold in the North American country. The numbers represent an almost two fold spike from the 11.5 percent tallied in 2014.

For the fourth quarter, the company's market share stood at 21 percent, the first time that the tech giant's market share has surpassed the 20 percent mark during a three month period. The quarterly figure represents a 2.3 percentage point gain from a year earlier.

Such a development has helped to solidify the country's brand image in one of the world's key markets.

Industry data showed that the company's greater presence was helped by strong sales of premium products like the its Family Hub smart refrigerator and FlexWash washers. Samsung also did well in cooking-related products, such as cooktop stoves.

In contrast, Whirlpool Corp., which called for safeguard measures on South Korean washers, actually lost market share and placed third after LG Electronics. Whirlpool's share of the U.S. home appliance market stood at 15.4 percent, down 1.2 percentage points from a year earlier, while LG's numbers stood unchanged at 15.7 percent.

The market shares of other manufacturers that made the top five list -- General Electric and Kenmore -- stood at 13.5 percent and 9.1 percent, respectively, in 2017.

"The positive results are due to the time and effort put into determining the lifestyle patterns of consumers," a Samsung executive said. He stressed the company aims to move forward on innovation to further provide the best possible service and products to consumers.

(LEAD) Samsung retains No. 1 market share in U.S. home appliance market in 2017 - 1


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