Siemens leaves household appliance joint venture with Bosch | RetailDetail

Siemens leaves household appliance joint venture with Bosch

Siemens leaves household appliance joint venture with Bosch

Bosch and Siemens have produced household appliances together since 1967 through a joint venture, but they will now go their separate ways: Bosch has bought Siemens' share for 3 billion euro.

"Internet of things"


German technology group Bosch will become BSH's (Bosch und Siemens Hausgeräte) full owner after it has paid Siemens 3 billion euro for its 50 % share in the joint venture. On top of that 3 billion euro, BSH will pay Siemens and Bosch 250 million euro each.


Bosch, one of the world's largest car suppliers, wants to lower its dependence on cars and that is why it will focus more on the so-called "internet of things". This revolves around household appliances (like washing machines and refrigerators) that communicate with the internet. Siemens on the other hands wants to focus more on gas turbines and compressors in the energy market.


Bosch can keep using the Siemens brand name for household appliances for quite a while. BSH is the third largest household appliance manufacturer in the world, with 41 factories in Asia, Europe and America. The deal should be finalized in the first half of 2015.


It is the second household appliance deal in the past month: General Electric has sold its household appliance division to Electrolux at the start of September and this second deal has consolidated the market even further.

Questions or comments? Please feel free to contact the editors

Media Saturn launches first checkout-free store in Austria


Saturn has opened Europe’s first checkout-free electronics store in Austria. The former Metro Group chain offers its customers traditional sales assistance, but payments have to happen using an app.

Media Markt unifies its online and offline pricing


Ceconomy will create uniformity between Media Markt and Saturn’s online and offline pricing. This will be possible thanks to the digital price tags it now uses in the stores, because there can be altered in real-time.

Smartphone sales drop for the first time ever


2017 may have been a record year for smartphone sellers, but the market is weakening: for the first time since 2004, there were fewer smartphone sales in the fourth quarter.

Merger paid off for Fnac Darty


French entertainment and electronics retailer Fnac Darty (owner of Belgian chain Vanden Borre and Dutch BCC) has experienced a “solid 2017”, with a nearly 40 % turnover increase.

Ceconomy finds growth online


Ceconomy, Media Markt and Saturn’s parent company, revealed a small turnover growth for its first quarter, thanks to improved online sales. Expectedly, its profit did drop.

Insurance company becomes second largest Fnac-Darty shareholder


There has been yet another thorough shake-up among Fnac Darty’s shareholders. The merger company, which owns Belgian electronics chain Vanden Borre and Dutch retailer BCC, will now welcome insurance company SFAM, after it bought investment fund Knight Vinke’s shares.

Back to top