Oil Prices Fall as Saudi Supply Concerns Ease 
Asian Stocks Rise as Oil Falls, BOJ Rate Decision in Focus 
FCC Approves Foreign Investment in $110B Paramount-Warner Bros. Deal 
South Korea Producer Prices Rise 0.2% in August 
LVMH-Hermès Dispute Deepens Over Secret 2002 Share Deal 
Asian Currencies Mixed as Dollar Holds Gains After Fed Rate Hike 
Fed Rate Hike Threatens Housing as U.S. Growth Leans on AI, Citi Says 
Nvidia CEO Jensen Huang Expected at Trump-Xi State Dinner 
Bessent Presses Japan on Fiscal Policy as Yen Struggles 
US Stock Futures Dip After Wall Street Rally 
Berkshire Hathaway Eyes Bigger Stakes in Japan’s Top Trading Houses 
Yen Slides After BOJ Rate Hike as Dollar Holds Near Seven-Week High 
Yemen Fighting Threatens Red Sea Oil Routes 
Canada Eyes India Trade Deal by Year-End 
Gold Prices Rise as Oil and Treasury Yields Fall 
White House Bars CNN, MS NOW and Politico Reporters 
Apple Pay Set for India Launch With Axis Bank 
Add as a preferred source on Google
Samsung Electronics Co. is giving it's home appliance unit a makeover by upgrading its research and development (R&D) team. The company recently separated its home appliance R&D division and created five teams out of it.
Samsung Electronics divided it into these categories: clothing care, cooking device, vacuum cleaner, refrigerator, and dishwashers to better manage each of them. Moreover, the consumer electronics retail giant’s software development team was also divided into five divisions as well.
According to Pulse News, the company also appointed six senior executives to help make the collaboration of the home appliance business in R&D projects easier and better. The execs were brought in from Samsung’s TV and smartphone business divisions earlier this month.
Samsung Electronics R&D center called Samsung Research, formed a new team to research about next-generation technology for home appliances. Business observers see the latest organizational revamp as the company’s effort to turn around its declining revenues in the home appliance unit as the demand slows worldwide.
Moreover, Business Korea reported that analysts said Samsung Electronics has totally reworked its home appliance unit after it showed a KRW318 billion loss in the fourth quarter of 2022. It now hopes that its reorganization will help the company gain strong sales and demand again.
LG Electronics, another Korean consumer electronics firm, is also finding ways to offset the slowdown in the home appliance industry. But unlike Samsung, LG is placing a big bet on the electric vehicle business for sales growth. Stock market analysts predicted that Samsung and LG Electronics would go into a deficit tunnel in both TV and home appliance businesses in the first half of this year.
Meanwhile, Samsung Electronics just launched its energy-efficient air conditioner. This is the company’s latest creation under its Bespoke luxury home appliance brand. Aside from this, it also unveiled a new Bespoke Cube air purifier last week, and more products are coming up under its home appliance business.
Photo by: Babak Habibi/ Unsplash
