Samsung: Digital Appliances Business focuses on premium and lifestyle products

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As communicated by Samsung, the Digital Appliances Business saw slow market growth in 4Q 2021 due to fading pent-up demand, in addition to a continued rise in material and logistics costs. However, Samsung achieved better profits compared to the previous quarter, thanks to an improved product mix and operational efficiency. In the first quarter of 2022, market demand is expected to decrease year-on-year for home appliances and high material and logistics costs are expected to persist. The company will continue its focus on premium and lifestyle product sales and improved operational efficiency. In 2022, the company expects a sluggish market for home appliances, but expects demand to edge up for new-category lifestyle products. Samsung plans to further expand its Bespoke lineup and continue to launch new-category products that reflect changing consumer needs.