Dyson is not going so well

The benefits of the Dyson consumption electronics were almost divided by two in 2024, despite the sale of more products this year than before.

The company before the company’s tax for 2024 fell to 561 million pounds Sterling (approximately $ 754 million), compared to 1.1 billion pounds sterling ($ 1.48 billion) the previous year.

It was also the first time that the company reported a drop in sales in more than two decades, according to the Telegraph, despite the sale of a record of 20 million products in the past year. The new Dyson product launches in 2025 included a combination of a combination of robots supplied with AI and a wet floor cleaner, and the company’s billionaire owner, Sir James Dyson, said they were preparing for more product launches in the home appliance category.

Known for its successful products such as bagless vacuum and Tiktok’s famous hand dryers, Dyson’s 2024 was marked by a cost reduction initiative despite the environment of a boom of popularity in the past two years.

Annual income increased from 7.1 billion pounds Sterling (just over $ 9.5 billion) to 6.6 billion pounds (approximately 8.8 billion dollars) in what the CEO of Hanno Kirner has described “a difficult but necessary transformation”.

In July 2024, the company dismissed around 1,000 employees in the United Kingdom, a third of its British workforce, and in October, the company dismissed a non-disclosed number of workers in Singapore.

Globally, Dyson has 10,000 employees, compared to 13,000 at the beginning of 2022. Although a British company at heart, Dyson moved its head office in Singapore in 2019 and manufactures most of its products in the region.

At the time of British layoffs, Dyson blamed “world markets increasingly ferocious and competitive”. The main competitors of Dyson include the buzzing Sharkninja, the German manufacturer of Miele and Samsung household appliances.

This time, when calling on Monday’s profits, Dyson’s leaders blamed the ad hoc factors for the massive drop in income, such as the volatility of currencies in Asia and Turkey, where Dyson sells most of its products, a global reorganization of the company and a factory fire which led to a shortage of supply in its beauty products.

But despite these punctual factors weighing on profits, leaders admitted that financial pressure was still due in part to “slower economic growth in 2024 and reduces consumer confidence in certain key markets”.

Although a global recession is still not in cards, the world economy is ready for its lowest race in almost two decades.

“Increased trade tensions and the uncertainty of policies are expected to reduce global growth this year at its slowest rate since 2008 outside the global and simple world recessions,” the World Bank wrote in a press release in June. “If forecasts for the next two years are materialized, average global growth in the first seven years of the 2020s will be the slowest every decades since the 1960s.”

The United States experiences (and also causes Trump’s prices) its just part of economic pressure. The confidence of American consumer decreased to a hollow of five months in September due to inflation and a weakening labor market, according to data from the Conference Board which was revealed on Tuesday.