There are many companies in the Consumer durable field. This industry is a leading industry attending to human needs. The industry produces a wide range of products designed to be used by consumers for an extended period, such as cars, appliances, furniture, and electronics. There are many benefits of the consumer durable goods industry to the overall economy.
It employs more people compared to other sectors in the United States. Jobs in this industry are lucrative, typically full-time positions with good benefits.
Moreso, The industry also accounts for a notable percentage of total U.S. exports. In fact, they export more products than any other industry.
This helps boost the U.S. economy by creating jobs at home and supporting economic growth in other countries worldwide.
This article discusses some of the companies in this industry, their founder, headquarters, and the services they render.
Companies In The Consumer Durable Industry
Microsoft
Microsoft is a multinational software corporation headquartered in Redmond, Washington, United States. The company develops, manufactures, and supports computer software and consumer electronics.
Founder
Bill Gates and Paul Allen founded the company on April 4, 1975.
Location
The company is headquartered in Redmond, Washington, U.S.
Market Capitalization
The market capitalization of Microsoft is estimated to be $2.063 Trillion as of 2022. It is the 3rd most valuable company in the world.
Average Number Of Employees
As of 2021, there are no less than 180,000 employees.
Services
The products of Microsoft range from hardware to software. Its software products include Microsoft Windows operating system and Internet Explorer web browser.
Samsung
Samsung Electronics Co., Ltd. is a South Korean corporation. It is one of the world’s largest producers of mobile phones, flat panel displays, semiconductors, memory chips, and LED lighting products.
Founder
Lee Byung-Chul founded the company on March 1, 1938, in Daegu, Japanese Korea.
Location
It is headquartered in Samsung Electronics Building, Seocho District, Seoul, South Korea.
Market Capitalization
The market capitalization of Microsoft is estimated to be $317.06 Billion as of 2022. It is the 23rd most valuable company in the world.
Average Number Of Employees
As of 2020, there are no less than 267,937 employees at the company.
Services
Its diversified business operations include electronics, construction materials, mobile communications, finance, retail, healthcare, sports equipment, chemicals, and automotive components.
LG
Founded in October 1958, previously as GoldStar by Koo In-how. It was later changed to LG electronics in
Location
The company is headquartered in Yeouido-dong, Yeongdeungpo District, Seoul, South Korea.
Market Capitalization
The market capitalization of LG is estimated to be $12.99 Billion as of 2022. It is the 1198th most valuable company in the world.
Average Number Of Employees
As of 2019, no less than 39,422 employees work in the company.
Services
In addition to its consumer electronic products, LG Electronics Corporation operates in three business segments: Home Entertainment, Mobile Communications, and Vehicle Components.
Its home entertainment segment includes televisions, audio systems, refrigerators, and air conditioners.
Its mobile communications segment includes wireless phones, smartphones, tablets, and laptop computers.
Its vehicle components segment includes automotive parts, LCD panels, LED lighting, and power management solutions.
Also READ: Is Consumer Durables a Good Career Path in 2022?
Panasonic
Panasonic Company is a Japanese multinational electronics company.
Panasonic Company is engaged in producing and marketing consumer goods, including home appliances, personal computers, mobile phones, and others.
Founder
The company was founded by Kōnosuke Matsushita on March 13, 1918, in Osaka, Japan.
Location
The company is headquartered in Kadoma, Osaka, Japan.
Market Capitalization
The market capitalization of Panasonic is estimated to be $19.05 Billion as of 2022. It is the 886th most valuable company in the world.
Average Number Of Employees
As of 2020, there are no less than 240,000 employees at the company.
Services
The company’s business segments include consumer products (mainly televisions), semiconductors, automotive electrical systems, air conditioning & refrigeration, building materials, power tools, telecommunications equipment, and medical devices.
Nokia Cooperation
Nokia cooperation is a company that provides mobile phones and services.
It is a Finnish corporation. Its products and services include mobile devices and network equipment.
Founder
The company was founded by Fredrik Idestam, Leo Mechelin, and Eduard Polón on May 12, 1865
Location
The company is headquartered in Espoo, Finland.
Market Capitalization
The market capitalization of Nokia is estimated to be $29.14 Billion as of 2022. It is the 602nd most valuable company in the world.
Average Number Of Employees
As of 2020, there are no less than 92,040 employees at the company.
Services
The products of Nokia Cooperation are many. They include cell phones, tablets, network equipment, and other electronic devices.
Conclusion
Many companies within the consumer durables industry take on services for clients. We can’t possibly list all.
The consumer durables industry is a booming business. Global demand for an array of goods, including automobiles, home appliances, kitchen appliances, medical equipment, and others, has fueled the growth of manufacturers.
The industry is one of the competitive industries, and the companies usually have a long-standing history in the market and aim to provide quality goods and services.
We hope you find the article useful.