A new day for Maytag?

Ashley Milne-Tyte Sep 19, 2006
HTML EMBED:
COPY

A new day for Maytag?

Ashley Milne-Tyte Sep 19, 2006
HTML EMBED:
COPY

TEXT OF STORY

SCOTT JAGOW: This week, Home Depot’s gonna give the Maytag repairman something to do.Well, that’s if the new Maytag washing machine breaks down of course. This is the first Maytag product since the company was bought by Whirlpool in March. Ashley Milne-Tyte has more.


ASHLEY MILNE-TYTE: Maytag was a market leader for many years with its solid, reliable washing machines and refrigerators.

But its fortunes began to sink in the ’90s. Retail consultant Wendy Liebman:

WENDY LIEBMAN:“The world of washing machines and dryers and home appliances has changed so much in the last 10 years that I think Maytag sort of got left behind in the rush.”

That was due partly to lack of innovation, according to Mike Deneen of the Fredonia Group. New owner Whirlpool intends to change that, he says. Indeed, they’ll have to, as consumers become increasingly obsessed with technology.

MIKE DENEEN: “As people begin to view appliances more as an electronic good, versus a mechanical nuts and bolts item, that tends to favor companies like LG and Samsung in the appliance industry.”

He says the new washing machine is a lot more high-tech. Its starting price is $1,100.

I’m Ashley Milne-Tyte for Marketplace.

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.