Dehumidifier Sales Surge 300% in Q2 Compared to Previous Quarter
Ice Water Purifier Sales Also Up 40%
This summer, as the heatwave continues day after day, sales of Coway's "summer appliances" are rising sharply. The early onset of hot weather, which is expected to persist until next month, is driving this trend. Coway's flagship products, such as ice water purifiers and dehumidifiers, are emerging as essential items for enduring the extreme heat, resulting in surging demand. The expansion of domestic sales for these major product lines, along with growth in overseas business, is also contributing to Coway's improved performance this year.
According to Coway on July 30, sales of ice water purifiers in the second quarter of this year increased by about 40% compared to the previous quarter and about 15% compared to the same period last year. The company explained that the record-breaking heatwave is continuously increasing consumer demand for ice water purifiers. The Yugoo plant in Gongju, Chungcheongnam-do, which mainly produces water purifiers among Coway's products, is already operating its water purifier production lines at full capacity.
Dehumidifiers, another representative summer appliance from Coway alongside ice water purifiers, are showing an even more pronounced increase in sales. Coway reported that sales of dehumidifiers and dehumidifier air purifiers in the second quarter increased by more than 300% compared to the previous quarter and about 180% compared to the same period last year. The rapid rise in demand for dehumidifiers is attributed to the early heat and the rainy season. In particular, as awareness spreads that simply lowering humidity can create a cool indoor environment while consuming less energy, the number of consumers looking to purchase dehumidifiers continues to grow.
Coway is responding to this surge in demand by launching new products equipped with advanced technologies. For ice water purifiers, the company introduced the "Icon Ice Water Purifier Standard" this year, which significantly expands ice storage capacity for greater practicality. This product features an ice storage compartment with a maximum capacity of 1.1 kg, the largest among Coway's home ice water purifiers, which is about 49% larger than the previous Icon Ice Water Purifier. To match the increased ice capacity, it uses "Dual Rapid Ice-Making Technology" to produce fresh ice every 12 minutes, generating up to 600 pieces of ice per day. Reflecting the demand from consumers hesitant to purchase ice water purifiers due to space constraints, Coway recently launched the "Icon Ice Water Purifier Mini," the smallest model among domestically released ice water purifiers. This ultra-compact product measures 20 cm in width and 43.5 cm in depth, making it about 28% smaller than the existing "Icon Ice Water Purifier Original."
For dehumidifiers, the new "Noble Dehumidifier Air Purifier" released this year is gaining popularity. It is an all-in-one product that combines a dehumidifier and an air purifier. It boasts a maximum daily dehumidification capacity of 21 liters and removes 99.999% of ultrafine dust particles as small as 0.01 micrometers through a four-stage filtration system. The "Large-Capacity Inverter Dehumidifier" is also attracting attention with the largest daily dehumidification capacity among Coway's products, up to 23 liters per day. Compared to previous dehumidifier models, it can reach a comfortable humidity level about three times faster, in just 30 minutes.
The popularity of these summer appliances, together with overseas performance, is driving Coway's improved business results. According to financial information provider FnGuide, Coway's second-quarter results are projected to be 1.2181 trillion won in sales and 233.1 billion won in operating profit. These figures represent increases of 12.6% and 10.4%, respectively, compared to the previous year. A Coway representative stated, "We plan to expand our lineup to meet the diversifying needs of consumers and continuously introduce differentiated products to strengthen our market leadership."
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