April 27, 2024
Economy
AC sales to surpass TVs for first time
[THE INVESTOR] Anticipating hotter summer days, sales of air conditions in Korea are expected to surpass that of televisions for the first time this year, according to news reports on June 29.
ACs, first introduced in Korea in 1968, have long been considered a luxury product with average annual sales clocking around 1.5 million units.
However, recent sales figures show that the figure is steadily increasing. Around 2.2 million ACs were sold last year, and this year’s figure is expected to top 2.5 million units, outpacing TV sales estimates of round 2.3 million units.
Reports say personal income growth has been driving up sales of expensive appliances along with falling prices and technological progress.
Samsung and LG, the top appliance makers, started AC production in mid-March, two months ahead of usual. They are producing at full capacity but supply is still falling short of demand.
By Song Seung-hyun (ssh@heraldcorp.com)
ACs, first introduced in Korea in 1968, have long been considered a luxury product with average annual sales clocking around 1.5 million units.
However, recent sales figures show that the figure is steadily increasing. Around 2.2 million ACs were sold last year, and this year’s figure is expected to top 2.5 million units, outpacing TV sales estimates of round 2.3 million units.
Reports say personal income growth has been driving up sales of expensive appliances along with falling prices and technological progress.
Samsung and LG, the top appliance makers, started AC production in mid-March, two months ahead of usual. They are producing at full capacity but supply is still falling short of demand.
By Song Seung-hyun (ssh@heraldcorp.com)
