Samsung leads in Latin America washer, fridge industry

The electronics company grabbed 43 and 35 percent of the market share in front-load washers and double-door refrigerators.

Korea-based electronics and appliances giant Samsung is the top vendor of washing machines and refrigerators in Latin America from January to April this year, according to the NPD Group.

Based on the report, the company took 43 and 35 percent of the market share in front-loading washing machine and double-door refrigerators, respectively. This is an impressive feat, considering that in Latin America, low- to mid-range items have a greater demand, while the abovementioned appliances are classified as high-end.

In terms of the washing machine and refrigerator segments in Latin America, front-loading and double-door units each take up about 20 percent. These markets are reportedly valued today at $4 and $5 billion, respectively.

Samsung is known in Latin America as a high-end manufacturer of home appliances, introducing such units as the Eco Bubble washing machine and the Twin Cooling and T9000 refrigerators. In order to facilitate better trade and expand penetration into the region, the company opened a premium goods shop in Havana, Cuba.

A month ago, Samsung secured the top spot in US home appliances for four consecutive quarters, earning 19.2 percent in the total market share. It is currently in talks to construct a $300 million appliance factory in Blythewood, South Carolina.