GE Appliances Set To Be Big In OZ
The biggest appliance brand in the USA, GE could deliver a massive shakeup of the Australian appliance market especially as they are already way ahead in the development of ‘Internet of Things” technology that links their appliances with Wi Fi networks and the Internet.
AB Electrolux of Sweden who also own the Westinghouse brand purchased GE Appliances for $3.3 billion last year.
This year Electrolux is set to mount a major campaign in the second half of 2015 for the Westinghouse brand in Australia with the focus being on the GE brand in 2016.
Keith McLoughlin, president and CEO of Electrolux said at the time of the GE acquisition “The acquisition, which is our largest ever, strengthens our commitment to the appliance business and also provides Electrolux with the scale and opportunity to accelerate our investments in innovation and global growth,” said.
According to McLoughlin, the combined company is expected to have total sales of almost $23 billion and will put the Frigidaire, GE and Electrolux brands under the same ownership.
The General Electric Company is in its own rights an industrial giant that will take on the likes of Samsung and LG in Australia when launched claim insiders.
Retailers such as JB Hi Fi, Harvey Norman and The Good Guys have all said that they are “keen” to sell the GE brand as they believe it will appeal to Australian consumers.
Currently General Electric is reinventing its products to compete head on with products from technology Companies like LG and Samsung as well as brands such as Whirlpool.
Earlier this month, General Electric made a quiet announcement that it now has the potential to turn every one of its appliances into a connected device.
The company has partnered up with IFTTT, which is “a service that allows users to connect Internet services and their devices.
“Owners can create recipes that suit their lifestyle and integrate GE’s connected appliances into the rest of their Internet-connected lives,” said Logan Garrett, a member of the Wi-Fi connected appliances team at GE Appliances.
“We think this is the beginning of a new way for consumers to interact with their home appliances.” he said.
Wired Magazine said recently that If General Electric plays its cards right, its appliances division will sell the pick axes and blue jeans of the Internet of things. Google has already made headway into its own Internet of Things with its connected “nest” thermostat, smoke detector, and security camera. But General Electric Company is the undisputed leader of home appliances. It sold $8.4 billion worth of goods in fiscal year 2014, pulling in $1.1 billion in profit. That’s equal to a sizable 6% of the company’s overall sales and 7% of its profit.