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    A005930   KR7005930003

SAMSUNG ELECTRONICS CO., LTD.

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Samsung Electronics : Meeting the Needs of a New Generation of Consumers With Bespoke

10/15/2021 | 05:22am EST

Samsung's Bespoke Home vision offers consumers a home that is beautifully designed, full of flexible features, seamlessly connected and inspired by its user. In this second installment of 'People Behind Bespoke', Hyesoon Yang, Head of Customer Experience for Digital Appliances at Samsung Electronics, discusses how the consumer experience inspires the customizable technology that makes up the Bespoke Home.

Gone are the days of one-size-fits-all when it comes to home appliances. With the new generation of Millennial and Gen Z consumers looking for appliances that go far beyond basic functionality, we have entered a customer-driven era in which users prioritize personalization and experience. This shift has challenged us at Samsung to think again, and pursue innovations that are truly consumer-centric as we ask, "how do people actually use their home appliances in their day-to-day lives?"

Since our consumers are all different and unique, we realize there is no one right answer to this question. No two homes are the same, after all. Going forward, flexibility is therefore a primary value we need to offer. And this is summed up in our new Bespoke Home vision - appliances designed for you, by you.

Flexibility Throughout the Home

Because of its importance in our day-to-day lives, the refrigerator is essentially one of the centerpieces of the home. However, conventional refrigerators traditionally only came in standardized sizes and colors, and offered little room for customization. With many consumers using their refrigerators for about a decade - enough time for many aspects of their lifestyle needs to change - they often end up stuck with the same refrigerator.

In 2019, Samsung brought flexibility into the kitchen with the Bespoke refrigerator, which makes it so that the fridge accommodates you, and not the other way around. Then, in 2020, the company launched AI-powered washers and dryers that leverage AI to customize cycles and deliver personalized laundry care solutions.

But that was just the beginning. In 2021, Bespoke will be expanded to the entire home to include a variety of solutions in the living space that include air purifiers, vacuum cleaners and laundry care products. The portfolio will also be offered in a wider range of color options to give consumers the flexibility they need to get the best out of their multifunctional Bespoke Home.

And what Samsung's Bespoke appliances can do for your home is evident in the company's laundry care solutions - namely, the washer, dryer and AirDresser. These products have revolutionized the previously unremarkable laundry space with sleek designs, Bespoke colors and the aforementioned flexibility.

More importantly, Bespoke harnesses AI, automation and connectivity to offer a one-stop laundry care solution. The Bespoke laundry care products recommend wash cycles based on your usage patterns, and automatically adjust the amount of detergent being dispensed and wash times based on the soil levels of your loads.

Blending Style and Sustainability

With the needs of consumers at different stages of life constantly evolving, the appliances in the Bespoke Home are innovative enough to fit a broad range of lifestyles and taste. Bespoke appliances come in modular designs that allow consumers to add to and modify products and alter color combinations whenever and wherever they see fit. This is underpinned by the fact that Samsung products are built to last, with their durability evidenced by the company extending the warranty on its Digital Inverter™ motor and compressor from 10 years to 20.

The appliances that make up the Bespoke Home also allow consumers to make their lifestyles more eco-friendly without compromising on style or performance. In addition to coming with top-notch energy efficiency technologies, Samsung's Bespoke Home allows you to simply change the panels on your appliances when you need a new look. This prevents you from having to discard the whole product and reduces your impact on the environment.

Take our Bespoke refrigerator the RB7300, which was given an A-grade energy efficiency rating under the stringent EU guidelines. The Ecobubble™ feature on our washing machines also reduces energy consumption by providing powerful cleaning at low temperatures, while the Bespoke AirDresser's AI Dry technology monitors the humidity of clothing to intelligently reduce drying time and electricity usage.

Samsung strives to minimize environmental impact by utilizing materials like eco-friendly refrigerants and plastics. The company also contributes to helping consumers work towards achieving more sustainable, 'zero waste' kitchens with optimized food storage solutions that keep food fresher for longer.

Elevating Home Experiences

With people spending more time at home these days, interest in the home and the experiences it provides is continuing to increase. Consumers want solutions that allow them to monitor and manage their homes conveniently. Hence, Samsung Bespoke Home appliances are IoT-integrated and equipped with services that provide a holistic experience in the home.

The AI Control feature in our washers and dryers uses AI and machine learning to remember your preferences and display your frequently-used cycles first. This gives you that personalized touch and removes the need to scroll through multiple menus each time you do laundry.

Aside from being able to navigate around objects and clean your home automatically, the Bespoke Jet Bot™ AI+ can also use its camera to help pet owners keep an eye on their pets while they're away. The device can also be used as a security camera to give you true peace of mind while you're away from home.

The Future of the Bespoke Home

For as long as consumers want appliances that are tailored to their unique lifestyles, the principles of 'bespoke' and 'flexibility' will remain at our core as we drive future innovations.

Samsung wants to bring smarter, more efficient and more durable Bespoke appliances to every corner of the home. While minimizing our impact on the environment, we will look to create an IoT ecosystem that will deliver a new standard of services and reinvent life at home.

Disclaimer

Samsung Electronics Co. Ltd. published this content on 15 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 October 2021 09:21:05 UTC.


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Sales 2021 277 160 B 236 B 236 B
Net income 2021 39 822 B 33,9 B 33,9 B
Net cash 2021 109 215 B 92,9 B 92,9 B
P/E ratio 2021 12,8x
Yield 2021 1,88%
Capitalization 520 404 B 442 B 443 B
EV / Sales 2021 1,48x
EV / Sales 2022 1,31x
Nbr of Employees -
Free-Float 82,7%
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Samsung Electronics Co., Ltd. Technical Analysis Chart | A005930 | KR7005930003 | MarketScreener
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 40
Last Close Price 77 400,00 KRW
Average target price 97 625,00 KRW
Spread / Average Target 26,1%
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Managers and Directors
Hyun-Suk Kim Co-President, Co-CEO & Director
Dongjin Koh Co-President, Co-CEO & Director
Kinam Kim President, Co-CEO & Director
Tae Moon Roh Co-President & Head-Research & Development
Hee-Chan Roh Chief Financial Officer
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