Samsung and Lennox are joining forces to create a joint venture that will distribute Samsung ductless products in the United States and Canada. These products will be sold through Lennox stores and direct-to-dealer network, as well as “Lennox powered by Samsung”- branded products for Lennox. In addition, the joint venture will continue to supply Samsung branded products to existing Samsung HVAC distributors and representatives in the United States and Canada.
Samsung sees this partnership as a way to strengthen its position in the North American HVAC market by utilizing Lennox’s distribution channels. On the other hand, Lennox aims to expand its business by offering a wider range of innovative ductless systems from Samsung. The collaboration will allow Samsung to leverage its expertise in artificial intelligence, software, smartphones, and semiconductors to provide smart home services. This includes features like Samsung SmartThings for device connection and control, as well as energy monitoring and conservation tools through SmartThings Energy.
The new joint venture is expected to enhance both companies’ residential and homebuilder businesses in North America. The two companies also aim to explore opportunities for collaboration in various product categories, from home appliances to TV, as well as in device parts and technology. Lennox’s CEO Alok Maskara expressed excitement about the joint venture and its potential to meet customers’ HVAC needs as part of the company’s growth strategy.
The joint venture is set to become operational in the second half of 2024, pending customary closing conditions. The business headquarters and operations will be based in Roanoke, Texas. This partnership represents two strong brands with a shared commitment to meeting customers’ HVAC needs and driving innovation in the industry.
In conclusion, this partnership between two leading companies brings together their expertise and resources towards providing innovative solutions for customers’ heating ventilation air conditioning (HVAC) needs in North America. With a focus on expanding business opportunities through smart home services, this joint venture is poised to become a leader in the industry while driving innovation forward.
