LG Electronics, which has long kept the top spot in the household washing machine business for years, is set to make bigger forays into the commercial washing machine business.
LG announced that it would make official entry into the global commercial washing machine market this year and aim to double its business scale in this area this year.
A commercial washing machine refers to the washing machine and dryer used in schools, apartments, or laundry shops. A payment system using coins, cards or smart devices has been established for the commercial-purpose washing machines.
North America and Europe have the largest commercial washing machine market, with a handful of U.S. companies, including Whirlpool and Alliance consisting of four companies, including Speed Queen, dominating the markets. At present, LG Electronics is strengthening its B2B capabilities in home electronics business ranging from commercial washing machine to built-in kitchen appliances.
