Philips Consumer Electronics company

September 19, 2022
Philips - United States

Philips, a brand name distinguished due to their televisions and optical media devices, is leaving the buyer electronics market and is now targeting medical gear and lighting effects. The organization offered its CE business into Japanese manufacturer Funai Electric Co. for $201 million.

Like Cisco, Philips discovered the CE market fraught with peril. The 80-year-old Dutch business initially built radios but backed Betamax inside 1980s and continued selling televisions and optical disk players in a saturated marketplace. With rivals coming from all sides, the most interesting thing Philips could create was the Ambilight system for splashing shade behind a television based on the video clip from the display.

That was plainly insufficient to endure as a CE manufacturer.

The organization saw a loss in $483 million which was double the reduction in Q1 2011.

CE is a slow-moving commodity today. Brand respect is dead and electronic made virtually every tv similar. Philips’ decision to close up shop is a brave one and necessary. It'll be interesting to see just who else is taken on because of the whirlwind of modification arriving at home CE.

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