After dominating the home washing machine market internationally, LG Electronics plans to strengthen its stance in the commercial washing machine market. (Image : Yonhap)
SEOUL, March.1 (Korea Bizwire) – After dominating the home washing machine market internationally, LG Electronics plans to strengthen its stance in the commercial washing machine market.
The company announced that it will jump into the global market for commercial washing machines, doubling the size of its business compared to last year.
Commercial washing machines are washers and dryers used at places such as apartment buildings, condos, schools and laundromats. The machines feature payment systems that accept smart devices as well as traditional payment methods including coins and credit cards.
Currently, demand is the largest in the North American and European markets. The industry is led by a pair of American companies, Alliance Laundry Systems (an alliance of four brands including Speed Queen) and Whirlpool.
LG Electronics, which is currently focusing on B2B businesses, is strengthening its efforts in all areas of home appliances including washing machines, at-home dry cleaners, and built in kitchen appliances.
Regarding the commercial washing machine market, LG has developed a cooperative relationship with distributors in the American market since 2008, based on its B2B business.
Currently, LG’s products such as washers, dryers and clothes stylers are on display at the LG Laundry Lounge, a laundromat managed by LG in the U.S.
LG invited new clients from 12 countries including Australia, France and China to a strategic conference on commercial washing machines that was held to draw the attention of European and Asian markets, which have a growing interest in laundromats.
LG’s commercial washing machines feature a direct drive motor directly connected to a large drum that is 5.2 cubic feet in size. The structure reduces sound and vibration, and is extremely durable.
The appropriate amount of detergent is added automatically when washing clothes, so the user doesn’t have to bring their own. A total of 20 different washing options improve user convenience.
By Lina Jang (linajang@koreabizwire.com)
