The consumer durables field has been one of the few sectors producing great job opportunities even with so much competition out there. However, anyone interested in clinching a job opportunity in this field first needs to know what companies are in the consumer durables field. For example, big names in the automobile industry like Tesla, Ford Motors, General Motors and Toyota have consumer durables stocks.
Some common household names like Adidas AG, Microsoft, Whirlpool, Samsung, Nokia Corporation (Nokia), Apple, LG and Sony are also included in the consumer durables field. When you start looking around yourself, you will find more and more brands involved in producing consumer durables. While these brands are always present around us, some of us are still unable to recognize them.
However, there is nothing to worry anymore as we have got you covered with a few big bulls of the consumer durables industry discussed.
What Are Consumer Durable Companies?
Consumer durables is an umbrella term used to describe the wide range of products made to serve the needs of the general consumer. Some of them are products like washing machines, microwaves, refrigerators and TV sets. Consumer durables companies are generally divided into a few categories based on their product lists. Consumer durables are commonly described as items bought only once every four to five years. It may be an electronic item like a television or a household appliance like a washing machine.
Consumer durable companies have always been a great source of income generation. As the manufacturing cost is higher than the selling price, the profit margin is usually better in this field. However, consumers always expect high quality and durability from these products, almost making it a challenge for any company to compete with others while creating better products.
Getting A Job In Consumer Durables Field
This field is considered one of the most challenging, and when it comes to getting a job in this industry, many people are unsure how to approach it. Most people think working in the consumer durables industry will create a lot of money as they will sell premium quality products. However, you need to keep in mind that this is not true.
You will be selling good products, but your product selection depends on their budget. So, you never get to choose yourself which product you would like to sell. However, the job profile is quite varied, and many opportunities are available. For example, you can work for the marketing or product development department or get into sales.
Top 10 Consumer Durable Companies
There are hundreds of different consumer durables companies out there. Based on their products and categories, they fall under different sub-sectors like appliance manufacturing, information technology, and electronics. While many brands and companies have set their foot in the consumer durables world, some have made it among the best performers. So if you are looking for the best options out there.
Here’s a quick peek at the top ten consumer durable companies:
Sony Corporation is one of the biggest companies in the present market now. Initially, Sony started as a producer of tape recorders in Nihonbashi, Tokyo, Japan, back in 1946. However, as time passed and technology evolved, Sony started moving its business toward the electronics industry. Nowadays, it’s one of the best brands in the electronics field. If you have ever used any electronic gadget in your life, then there are high chances that Sony Corporation may have manufactured it.
They are all set to take over the market with the introduction of newer products in the electronics field this year and next year. Sony has now turned the tables with its global reach to over a hundred countries and a positive & trustworthy brand image. Sony has a great hold on every segment, from digital cameras and smartphones to household appliances, electronics, and more. One of the most magical creations of Sony is their Playstation system, which is widely popular among game-freaks.
Apple recently launched its iPhone X, which has set the smartphone industry on fire. Apple’s new smartphone has some unbelievable features and technology packed inside it. The glass back and stainless steel frame truly look elegant. The best thing about Apple is that every new launch clicks with the audience due to its much-needed innovation factor. People love to buy Apple products, whether iPhones, iPods or laptops.
Apple has inspired many entrepreneurs who want to be a part of the electronics industry. Every year, millions of people worldwide queue up in front of stores to get their hands on the latest iPhones, MacBooks and more. For years, Apple has built a solid reputation for its top quality products.
These days, technology has taken over our lives. While we previously used to hire professionals to do our work by just sitting at home, now we can do everything on our own by just using a simple PC and the internet. One of the biggest influences of technology in our lives is Microsoft Corporation. Microsoft is one of the biggest software producers in the world now, and they are steadily trying to enter the hardware segment as well.
If you have ever used any kind of software like Word or accessed any website, then there are high chances that Microsoft technologies powered it. The growth story of Microsoft is truly amazing. If you want to know more about Microsoft, you can read our dedicated blog post How Microsoft became one of the biggest companies in the world. Microsoft Windows has grown to a level with a user-share percentage of over 91%.
Samsung is the largest business conglomerate in South Korea, and they are also one of the best consumer durables companies in the world. They have been continuously launching new products keeping up with time, and taking the smartphone market by storm. Samsung was first established in 1938 as a trading company; later on, it turned into a large corporation.
As time passed, Samsung diversified its business unit by venturing into the electronics industry and acquired Samsung Electronics and Samsung Heavy Industries (in 1980). While initially, their focus was to produce electronic goods for the telecommunications sector but gradually, they moved towards the consumer durables industry. Samsung has now become the largest smartphone manufacturer in South Korea, and they are on its way to grabbing the 2nd spot of top smartphone companies.
5. Adidas AG
If you have ever gone to any sports shop or apparel store, you must have seen Adidas products. Adidas is one of the best sports goods companies in the world now, and they are one of the top brands in the apparel market. The owners of this company have expanded their business and taken it to the next level. Adidas has now started producing sports goods for athletes like footballers, athletes and hockey players etc.
One thing about Adidas is that they always try to blend sports with fashion so that people can wear their products on occasions other than sports. Also, Adidas has spread its wings across many countries and regions by opening its offices abroad. They have managed to capture people’s minds worldwide with innovative products and quality service. Currently, Adidas has signed many multi-million deals with many sports celebrities.
6. Nokia Corporation (Nokia)
Nokia is the world’s largest manufacturer of mobile phones, and as a result, they have become one of the best brands in consumer durables. Nokia was ranked as Best Global Brand in 2013 by Forbes. The company is known for its high-quality products and services. However, we all know that Nokia has gone through a rough phase over the years, and it was even forced to change its name after filing for bankruptcy.
While Nokia has struggled to maintain its position in the current smartphone market, it’s still one of the top brands with a positive brand identity. Initially, there was no competition for Nokia in the mobile segment. Now, the company is making a comeback with advanced level smartphones with the advanced technology of broadband. However, Nokia has maintained its rank among the top ten companies instead of growing competition in the smartphone market.
7. Lenovo Group
Lenovo Group is one of the best computer producers in the world, and they were ranked as Best Global Brand in 2013 by Forbes. The company is not just a brand, but it also has become a lifestyle for many people. The company was founded in 1984 and had a humble beginning. Although they have made great progress over the years, Lenovo has still retained its position as the leading computer producer in China.
In recent years, the largest growth of Lenovo Corporation was seen when it entered into smartphone market by launching feature-packed smartphones. Many other products such as notebook computers, tablets, and televisions are also launched by this company with highly advanced features and technical capabilities, which are currently trending worldwide.
LG Electronics is the second-largest television producer after Samsung. There are many categories in which LG Electronics has dominated the market. One of their best achievements is the creation of OLED technology; since then, the company has been taking a leadership position in this field. Furthermore, ever since the merger of LG with South Korean giant Hera, its market reach of LG has substantially increased.
LG has developed OLED technology under its brand name, which is now selling at a very high premium above its competitors, who also sell products based on OLED technology. Another interesting thing about this technology is that it can be used for smartphones and TV screens. So now, LG is the top choice for home appliances ranging from refrigerators to washing machines and televisions.
Toyota is the second largest car producer in the world, and the company has been working for more than a century in the automobile industry. The company currently sells its cars worldwide under different brands such as Lexus, Scion, Daihatsu and Hino. For four-wheel-drive lovers, Toyota is known to offer some of the most reliable automobile manufacturers in the industry.
The biggest achievement of Toyota is that they have maintained their position in the top ten companies despite all the problems faced by automobile companies over the years. Being one of the best car producers in the world, they are also known for their quality products and services, which have helped them gain a lot of brand loyalty worldwide.
The company was founded in 1911, and its subsidiary companies have been selling home appliances under various brands. Home appliances produced by Whirlpool are currently branded as “Whirlpool” or “Maytag”. The company is one of the world’s largest producers of home appliances, and they have more than 110 manufacturing plants across the globe. They also have more than 50,000 employees.
The company is currently the largest refrigerators and washing machines manufacturer in North America. At the same time, they are the second-largest producer of Air Conditioners in the United States after Carrier Corporation. Whirlpool is considered among the most profitable electronics manufacturing companies out there now. When buying premium quality home appliances, it’s a name that can be easily associated with them.
Frequently Asked Questions
1. What are stocks considered consumer durables?
These are the stocks of companies that are popular manufacturers of these consumer durable products. Generally, home appliances or items of day-to-day requirements are considered under the consumer durable segment.
2. Do Jobs In The Consumer Durables Field Pay Well?
The consumer durables field is known to produce some of the highest rewarding jobs in the world. However, the payout you will get is based on the skills and working experience you possess in this field.
3. What is a consumer durable product?
Generally, these are products that you do not buy too often as they have an average lifetime of around three to five years. In addition, the category of these goods often varies from household appliances and smartphones to automobiles and electronics.
In a nutshell, these are the most commonly trusted names in the consumer durables field. From kitchen appliances and electronics to automobiles and smartphones, all these equipment of basic requirements is considered under consumer durables. So for people wondering about what companies are in the consumer durables field, these are some of the best options for you.
Also read: What Is The Principle Of A Company?