Jaromir Miko When you think of smart electronics, the first thing that comes to mind for some is Philips Hue bulbs. Of course, the Dutch company ranks among the popular manufacturers of home electronics as such today, but that may soon change. The company is considering drastic changes in its consumer products division and wants to focus on the production of health technologies and continues to produce products in the areas of dental and gum care, maternal and child care and personal care.
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The home appliance division, also referred to as the kitchen division, is behind many kitchen and home care products, as well as coffee machines, irons, steam generators and garment steamers. Royal Philips NV values the division at 2,3 billion euros, and chief executive Frans van Houten says the sale to another manufacturer could take place within 18 months.
Philips also previously left the black electronics market and also ended the development of its own Philips Hue lights, the new manufacturer of which became the company Signify, which sells products under the original name. All production of televisions and players was then taken over by the Japanese manufacturer Funai for North America and TP-Vision for Europe and South America.
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The company believes that its exit from the home electronics market will allow it to expand particularly in the healthcare sector, including the aforementioned consumer products. The CEO of the company mentions Siemens Healthineers as the main competitor. Philips is also reorganizing its Connected Care division, which the statement said has not yet met expectations. Although demand for IntelliVue wireless monitors is growing, profits have been affected by the trade war between the US and China, which has also increased tariffs on Philips products.
Philips therefore plans to cut costs and reorganize its supply chain. It is also preparing measures in connection with the coronavirus, which has already claimed more than 100 lives and infected nearly 4 people, and there is a risk for companies that it will affect the production of products in China.
However, users of Philips products have nothing to worry about. Even though the parent company is discontinuing their production, sales and support continue under other companies including Signify and others. There is therefore no need to worry that the popular Hue bulbs connected to the HomeKit platform or coffee machines will disappear from the market.
Source: Bloomberg
Philips is not really a Danish company.
According to the title, the article is a complete 3.14 substance and the content confirms it.
Behind 1. Philips is a Dutch company.
2. They have 2 divisions there HS and PH. HS are medical systems and PH are brushes, irons, etc. Kitchen appliances belong to PH.
3. The entire Lighting division was spun off and renamed Signify. So no stoppage of production and other de**lits.
4. The TV is not owned by Funai, but by TP-Vision, which is under AOC
5. The biggest competitor in medical devices is GE
Next time before you release something, kindly verify the information and do not spread delusions and fake news.
this "storyteller" is 4-5 years old, it's ending... it's ending and it can't end...
eh, you editors