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

Philips waves goodbye to the consumer electronics business.

@anthony256

Published Jan 29, 2013 9:38 PM CST
Updated Nov 3, 2020 1:25 PM CST

35 seconds read time

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.

Philips drops out of the consumer electronics business, surprises no one | TweakTown.com

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 SOURCE:techcrunch.com

Anthony Garreffa

Anthony joined the TweakTown team in 2010 and has since reviewed 100s of graphics cards. Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering and has recently taken a keen interest in artificial intelligence (AI) hardware.