Philips exits consumer electronics
Philips exits AV market, sells remains to Funai

30 Jan 2013 | Rasmus Larsen |

Philips sold its TV division last year and have now decided to sell the rest of the consumer electronics division to Japanese Funai. It also means that Philips will no longer produce Blu-ray/DVD players and audio systems.

Philips has exited the AV market

Philips has been developing and selling consumer electronics for more than 80 years. They developed a range of important TV technologies and were a main contributor to the DVD and Blu-ray standards. But soon Dutch Philips will have no role in these markets. They have announced the sale of all its AV divisions, in order to focus on lighting, health / well-being and control systems.

- "Since we have online entertainment, people do not buy Blu-ray and DVD players anymore," says Philips CEO, Frans van Houten, to the Wall Street Journal.

”Philips
Philips sold its TV division last year and the rest of audio/video divisions have just been sold to


The majority of the activities will be transferred to Funai in the second half of 2013 but the video division will not change hands until 2017. Funai will pay Philips 150 million Euros + an annually licensing fee, with an option to extend it for 5 more years. Funai will receive the right to slap a Philips logo on its products.

You will also continue to see Philips TVs in the market place. The TVs will be produced by TPV from Hong Kong that acquired the right to use the Philips brand on TVs in 2012.

- Source: Philips press release, the Wall Street Journal



Share on:


Latest news

Hisense OLED

Hisense is bringing its OLED TV to the UK & parts of Europe

18 Jun 2019 | Rasmus Larsen |
tvOS 13

Apple TV is getting a picture-in-picture mode with tvOS 13

18 Jun 2019 | Rasmus Larsen |
Samsung TV

Samsung: Important to scan your Samsung TV for malware & viruses

17 Jun 2019 | Rasmus Larsen |
UEFA.tv

UEFA debuts free streaming service UEFA.tv

14 Jun 2019 | Rasmus Larsen |
Sony A9G OLED

Sony A9G OLED wins 'King of TV' at 2019 TV Shootout

13 Jun 2019 | Rasmus Larsen |
The Wall Luxury

Samsung will launch 'The Wall Luxury' microLED displays in July

13 Jun 2019 | Rasmus Larsen |
Xbox

Next-gen Xbox console will have a disc drive

12 Jun 2019 | Rasmus Larsen |
Sony A8G

Sony 2019 A9G and A8G OLED TVs now available

11 Jun 2019 | Rasmus Larsen |