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Balmuda, a Japanese high-end home appliance maker, is introducing a new air purifier in Korea today ahead of the rollout in Japan, where the launch date has not been set. Balmuda CEO Gen Terao emphasized the importance of the Korean market during the…
Struggling department store chain JC Penney announced it will exit its home appliances business, and some of its furniture business, while revamping the layout of its stores to focus on clothing sales to boost profits. The company, which hasn’t turned a…
As fine dust blows into Korea, demand for products that defend against pollution spike. According to an Emart study released Friday, mask sales between Jan. 10 and Jan. 16 surged 458 percent from the same period a year earlier while the sales of air purifiers…
LG has established a new research laboratory committed to advances in fridge, oven and other home-appliance technologies. LG Electronics opened the 6,760-square-foot Food Research Institute on Monday at Changwon, South Gyeongsang. At the center, researchers…
Gome Retail has plunged US$64million into the red as its restructuring program takes its toll. The company took the unusual step of releasing third-quarter financial data, which shows group sales were down 11.2 per cent in the first nine months of the year,…
Home appliance companies are building their rental service businesses as the trend is for consumers to value experience more than ownership. With the growing size of the local home appliance rental market, some companies have started management services to…
US industrial giant General Electric will sell its appliances business to China’s Haier Group for USD 5.4 billion, it said today, in one of the largest Chinese acquisitions of an American firm yet. The transaction epitomises the changing nature of the global…
