Samsung Electronics Co. on Tuesday unveiled its breeze-free cooling technology-applied 360 Cassette Air Conditioner in hopes of catching up frontrunners in the burgeoning global market for ceiling-mounted air conditioners.

South Korea’s electronics giant showcased its innovative 360 Cassette at Korea Energy Show 2016 that kicked off Tuesday at Kintex in Ilsan, Gyeonggi Province. The 360 Cassette eliminates blades of conventional ceiling mounted air conditioners and incorporates the world’s first circular design to ensure even and omni-directional air flow. It also adopts the industry-first booster fan that is used to blow air evenly and horizontally and prevents direct blowing of cold air. The company received award at iF Design Award 2015 for its innovative circular design that adds a stylish touch to any place.

Samsung Electronics has been recently reinforcing its air conditioning business, in particular, ceiling-mounted air conditioning solutions whose market is estimated at $70 billion accounting for almost 50 percent of the entire global air conditioning market.

In order to increase its share in the rapidly growing ceiling-mounted air conditioning market, the company plans to establish a new subsidiary specialized in air conditioners sale in Europe January next year by combining sales networks scattered across 17 European countries.

“Albeit a late comer, Samsung Electronics has the world’s best technology in cassette air conditioner industry,” said Seo Hyeong-joon, a master of the company’s consumer electronics division who participated the development of the windless cooling technology that made its Q9500 air conditioner a big hit in the market this year. “We will redouble our efforts to expand our market share in the global market,” he added.

Samsung Electronics shares closed down 2.9 percent, or 48,000 won, at 1,596,000 won on Wednesday.

By Woo Je-yoon

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]