Dyson's Latest Cordless Vacuums Drive Sales Past $3 Billion
- U.K. company invests in batteries, artificial intelligence
- Founder Dyson says ‘new entrants’ will penetrate car market
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Dyson Ltd. continues to prove making high-priced vacuum cleaners is a lucrative and growing business.
The closely held U.K. firm said total sales grew 45 percent in 2016, to 2.5 billion pounds ($3.12 billion), largely due to demand for a new line of battery-powered cordless cleaners. The models, first introduced two years ago and costing about 500 pounds each, are the fastest-selling vacuums in the company’s 25-year history. Dyson’s profit excluding some costs surged 41 percent to 631 million pounds.