Challenge to LG’s Dominance
Coway, a mid-sized home appliance maker, will launch a clothing refreshing system next week. In addition, Samsung Electronics plans to launch its clothing refreshing system as early as July.Other major home appliances makers such as Kyowon Wells and Winix will also enter the clothing refreshing system market. Accordingly, it garners much attention whether or not there will be change in the domestic clothing refreshing system market which has been monopolized by LG Electronics with the Tromm Styler.
An industry source said on May 10 that Coway will launch Fresh Wear Styling System (FWSS) in Korea. The produce is characterized by the fact that it features a more advanced refreshing function so can perform the air cleaning and dehumidification of not only clothing but also space at the same time. The product is expected to be priced between 40,000 to 60,000 won, which is similar toa monthly rental of clothing refreshing systems on the market.
Coway plans to raise its market share rapidly with this product front and center in the clothing refreshing system market, which has been dominated by LG Electronics. In a move against the market dominance by LG Electronics and the launch of the FWSS by Coway, Samsung Electronics plans to release a clothing refreshing system as early as July.It is said that Samsung Electronics registered the secret design of its clothing refreshing system at the Korean Intellectual Property Office.
Accordingly, the domestic clothing refreshing system market is expected to become a multi-runner racewith Coway, Samsung Electronics and LG Electronics which is taking the lead. The market has been monopolized by LG Electronics for more than seven years since the lauch of the Tromm Styler in 2011. LG Electronics sold about 100,000 units of Tromm Styler last year, and Tromm Styler sales have doubled from last year until April this year.
Last year, roughly 120,000 units were sold in the Korean clothing refreshing system market. This year, the clothing refreshing system industry expects that fine dust, and the participation of more companies will drive up demand for clothing refreshing systems to 200,000 units.