Samsung has set its sights on a fairly ambitious goal: to become the world's largest appliance manufacturer by 2015.
According to Bloomberg Businessweek, Samsung has some pretty formidable competition here in the U.S., including current leader Whirlpool. However, it's the fast-growing appliance brand in the country, managing to jump from 2.3% market share to 10.5% over the last five years.
The manufacturer announced a new Smart Home Initiative at the Consumer Electronics Show in Las Vegas this week, where its appliances enjoyed a larger-than-usual share of the spotlight.
To set itself apart from the competition, Samsung is rolling out features such as a sparkling water tap, custom-temperature zones, and a secondary freezer option in its Chef Collection refrigerator. Meanwhile, the FlexDuo oven can be partitioned into two cooking areas, and a brand new dishwashing technology introduced at CES, called WaterWall, is a linear system (versus the traditional rotary spray arm) that targets hard-to-reach corners.
B.K. Yoon, Samsung's co-chief executive officer in charge of consumer products, acknowledged that in order to reach its goal, Samsung will need to target the core consumer market and avoid focusing too much on the high-end segment of the market. However, Samsung envisions a sort of "trickle down" effect wherein its premium products will inform its middle-of-the-market solutions.