GE looking into shedding appliance division

(CNN)– General Electric - the company that introduced the refrigerator, room air-conditioner and toaster oven - is considering either auctioning off or spinning off its appliance business, according to a source close to the matter.

GE entered the appliance business in 1907 and the brand has been ubiquitous in American kitchens ever since.

But now, GE's businesses that have a global scope are doing much better, the source said, and the company has been discussing making a move with the appliance division for a while.