Samsung Buys US Luxury Home Appliance Maker Dacor

Samsung buys US luxury home appliance maker Dacor

SEOUL, (Pakistan Point News - APP - 11th Augst,2016) - samsung Electronics said Thursday it had acquired US luxury appliance maker Dacor, as part of its push towards a full production line of high-end, Internet-connected homeware. The purchase of the California-based company is the latest in a series of acquisitions by the South Korean electronics giant in recent years -- including that of US home automation startup SmartThings in 2014. A Samsung statement gave no details on the value of the deal to acquire Dacor, whose products include stovetops, ovens, ranges and refrigerators.

Samsung -- the world's top smartphone maker -- is also a leading home appliance manufacturer, producing refrigerators, washers and air conditioners. It has been on a something of a buying spree in the United States, snapping up a handful of firms including cloud computing start-up Joyent in June. Samsung has been searching for ways to bolster profits beyond its key smartphone business as growth in the global handset market continues to slow.