The company known as the conglomerate producing all consumer electronics has evolved into a specialized unit dealing with medical technologies. Frans van Houten, CEO of the company, said that the home appliances business is not strategically suited to the future of the company as a leader in medical technologies. Some of the home appliances business can be sold within the next 12-18 months.
In recent years, Philips has been consistently withdrawing from subsequent products focusing on the medical market. Changing the business owner does not necessarily mean that products with the Philips logo will disappear from the store shelves. The TV department is currently in the hands of TP Vision, but the receivers are sold under the Philips brand. Certainly, a similar situation will take place on the household appliances market.