Key Points:
- Strategic Joint Venture: Samsung and Lennox are forming a joint venture to sell ductless HVAC systems in the US and Canada.
- AI-Driven Smart Solutions: Samsung aims to enhance smart home services with SmartThings AI, focusing on energy efficiency.
- Market Expansion: The collaboration is expected to bolster Samsung’s position in the North American HVAC market.
Samsung Electronics has announced a strategic joint venture with Lennox International to revolutionize the HVAC (Heating, Ventilation, and Air Conditioning) market in the US and Canada. This alliance aims to leverage both companies’ strengths to offer advanced, ductless HVAC solutions.
Samsung, renowned for its cutting-edge technology in AI, software, and smart devices, plans to integrate its SmartThings AI capabilities into this venture. SmartThings Energy will enable users to monitor and manage their home’s energy consumption efficiently, with AI-driven features designed to optimize the performance of connected home appliances. This integration promises to enhance the convenience and energy efficiency of smart homes across North America.
“We are pleased to have entered into a long-term collaboration with Lennox to lead the air conditioning market,” stated Choi Kyung-sik, President of Samsung Electronics North America. The joint venture, named Samsung Lennox HVAC NA, will distribute Samsung’s ductless products and co-branded “Lennox powered by Samsung” products through Lennox’s established retail and dealer networks.
This strategic partnership, in which Samsung will hold a 50.1% stake and Lennox 49.9%, is expected to solidify Samsung’s foothold in the competitive North American HVAC market. By combining Samsung’s technological expertise with Lennox’s industry experience, the venture aims to deliver innovative and energy-efficient climate solutions to consumers, marking a significant advancement in the HVAC industry.
