TweakTown
Tech content trusted by users in North America and around the world
6,072 Reviews & Articles | 38,995 News Posts

Philips drops out of the consumer electronics business, surprises no one

Philips waves goodbye to the consumer electronics business

| Business, Financial & Legal News | Posted: Jan 30, 2013 3:38 am

Philips have just bowed out of the consumer electronics market, and are now focusing all of their energies into the medical equipment and lightning businesses. Philips have sold their consumer electronics business to Japanese manufacturer Funai Electric Co. for $201 million.

 

TweakTown image news/2/8/28188_02_philips_drops_out_of_the_consumer_electronics_business_surprises_no_one.jpg

 

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

 

This is true though - as most consumer electronics are pretty much identical these days as the content displayed on them is completely online. Myself, I use a Samsung Smart TV and don't use any of the 'smart' features apart from two times in eight months I've used Skype. Everything comes from a networked media player, streaming from my QNAP NAS. There should be many changes in the consumer market with more players shifting and changing in the coming years.

NEWS SOURCES:Techcrunch.com

Related Tags

Further Reading: Read and find more Business, Financial & Legal news at our Business, Financial & Legal news index page.

Do you get our news RSS feed? Get It!

Got an opinion on this news? Post a comment below!

Latest Tech News Posts

View More News Posts

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases