Samsung sees pandemic-led appliances boom extending run to rest of year

A pandemic-driven boom in home appliance sales will last longer than previously anticipated and extend into the second half of the year, Samsung Electronics Co Ltd’s head of the business said.

Lee Jae-seung, president of the South Korean company’s digital appliances business, told Reuters in an interview that he had originally expected the boom to subside after the first quarter of this year.

But extended travel restrictions despite vaccine rollouts and consumers being flush with cash due to economic stimulus measures of governments plus limited spending avenues for them had stretched the boom, Lee said.

A buoyant demand outlook from one of the prominent global home appliances makers brings supply-chain issues to the fore, specifically a shortage of semiconductors that has hurt many industries, particularly the automobile sector.