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Tag: appliance

  • JD.com Forecasts Rise in Home Appliance Sales in H2 Despite First Revenue Drop in Over a Decade

    JD.com Forecasts Rise in Home Appliance Sales in H2 Despite First Revenue Drop in Over a Decade

    JD.com, a prominent marketplace for consumer electronics in China, forecasted an uptick in home-appliance sales for the second half of the year during their recently held quarterly review. This projection was made despite their first reported decrease in quarterly income in over a decade.

    The CEO of the company, Sandy Xu, addressed the downturn in revenue from electronic and home appliances during a conference call with analysts. She attributed the decline to an elevated comparison base from the previous year and escalated raw material costs. However, she noted that there was a resurgence in momentum entering into June.

    Expectations for Growth

    As she peered into the coming months, Xu expressed her confidence in the potential growth of the consumer electronics category, even as its continually rising prices may continue to impact consumer demand adversely. She postulated that this growth will be “meaningful” and is partly due to the easing of the challenging year-on-year comparison.

    However, the impact of these predictions was somewhat dampened as US-listed shares of the company saw a decrease of 3.5 per cent in trading during the GMT 1342 time slot.

    The Uphill Task of Rejuvenating Consumer Spending

    Despite the setbacks, JD.com exceeded estimated quarterly revenue projections, with the annual 618 shopping festival playing a significant role. The festival, one of the country’s largest online retail events, ran for more days than previous years, offering retailers and brands additional time to vie for consumer spending via deep discounts and promotional campaigns.

    However, total revenues still saw a dip of 2.9 per cent, settling at 346.4 billion yuan (US$51.37 billion) in the quarter ending in June. This underlines the ongoing struggle to rejuvenate consumer spending in China. This struggle is exacerbated by consumer apprehension concerning job security and the prolonged downturn in China’s property sector, which has weakened consumer confidence.

    The company reported a net profit for the quarter of 7.1 billion yuan, a notable improvement compared to last year’s 6.2 billion yuan in the same period. The non-GAAP net profit for the quarter was 8.9 billion yuan, showing an impressive 20 per cent increase from the second quarter of 2025.

    Questions & Answers

    What factors were attributed to the recent dip in JD.com’s revenues?
    The decline in revenues was attributed to an elevated comparison base from the previous year and increased raw material costs.

    What is the company’s projection for the second half of the year?
    JD.com predicts an increase in home-appliance sales during the second half of the year.

    How does JD.com plan to rejuvenate consumer spending?
    One strategy is through extended online retail events like the annual 618 shopping festival which offers deep discounts and promotional campaigns to consumers.

  • JD tops the China’s online appliances market

    JD tops the China’s online appliances market

    E-commerce giant JD has taken the lead in China’s online appliances market.

    The finding was part of a new report on the industry within China prepared by the China Electronic and Information Industry Development Research Institute, which showed JD’s market share stands at 22.39 percent in a sector that raked in RMB891 billion (US$128 billion) last year with a 41.17-per-cent penetration of online sales.

    The lead online product in the category by an overwhelming margin was the air conditioning unit, bringing in RMB 216 billion ($31 billion) in total sales and taking up nearly a quarter of all household appliances traded via the internet. Other popular goods include TVs, fridges, washing machines, kitchen appliances, and household appliances.

    While the recent coronavirus outbreak has had a markedly negative impact on online sales as well as offline trading, normal market conditions are expected to return once the crisis passes.

    “When the epidemic subsides, consumer demand will return,” said JD Retail CEO Lei Xu.

  • BSH Home Appliances appoints new director for APAC

    BSH Home Appliances appoints new director for APAC

    BSH Home Appliances Group has appointed Gunjan Srivastava as executive VP, head of Asia Pacific.

    The appointment reflects the company’s focus on driving accelerated growth across the region, including Singapore, Malaysia, Indonesia, Thailand, India, Australia and New Zealand.

    Gunjan has more than 15 years of experience in the durable-goods sector, with core expertise in fortifying brand portfolios. Prior to this appointment, Gunjan was the CEO of BSH India, where he was instrumental in spearheading the firm’s growth over five years, introducing new verticals and doubling its market footprint.

    “I’m both humbled and excited to continue strengthening the BSH brand and fortifying our presence in the region,” said Gunjan. “In my years leading BSH India, I’ve had the chance to gain an in-depth understanding of how to drive vigorous growth for BSH in a high potential market. Asia Pacific is a vastly diverse region, where there is an immense opportunity for us to increase visibility, gain market share, and further consolidate our leadership.”

    In his new role, Gunjan will be focusing on maximising the opportunities in the various Asia Pacific markets that BSH has subsidiaries in.

    “In order to meet consumer needs that are in constant flux, BSH has a clearly defined objective: to become the industry leader for digital services and kitchen experiences for connected consumers, by producing innovations that offer tangible benefits and help make their lives better,” said Gunjan.

    BSH Home Appliances recently opened its first UnserHaus Customer Care Centre and a UnserHaus Experience Centre in Singapore. Meaning “our house” in German, the centre is a lifestyle concept featuring Bosch and Gaggenau appliances in a home-like environment.

    While waiting for their appliances to be repaired, customers can visit either the dining room, which provides a hands-on experience with built-in appliances like dishwashers, coffee machines and ovens; or the living room, where they can sit down, unwind and relax with music or a wide-screen television. There is a children’s playing space as well.

    All products at UnserHaus come tagged with a QR code that allows visitors to purchase and pay for them online.

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  • South Korea’s Samsung consider building US appliance factory

    South Korea’s Samsung consider building US appliance factory

    South Korea’s Samsung Electronics said Friday it’s considering building a factory to make household appliances in the United States as various industries brace for potential protectionist trade policies under the administration of President Donald Trump.

    A spokeswoman for Samsung said the plans were “purely in the evaluation stage” and no decisions have been made. She didn’t want to be named, citing office rules.

    Samsung also said in an emailed statement on Friday that it continues to assess “new investment needs in the United States. The news drew the attention of Trump, who tweeted “Thank you, @Samsung! We would love to have you!”

    Most Samsung televisions, refrigerators and other household appliances sold in the United States are made in Mexico.

    The spokeswoman refused to say whether Samsung was worried about the possibility of the United States moving to impose tariffs on products imported from Mexico.

    A spokesman from LG Electronics, another South Korean technology company, said it is also considering building a manufacturing plant in the United States and will decide on the matter within the first half of the year. He also didn’t want to be named, saying that the matter was sensitive.

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