Philips officially withdraws from the home entertainment market, consumer electronics business is sold to Funai Electric

According to The Wall Street Journal, Philips, which has been in the consumer electronics market for more than 80 years, officially announced on Tuesday that it has sold all of its remaining consumer-related businesses (audio, video, multimedia and accessories) to Japan. Funai Motor (Funai). Although Philips is already gradually selling its consumer electronics business, it still suffered a net loss of 358 million euros (about 481 million US dollars) in the last quarter.

Philips and Apple have a very interesting history. At first, Philips and Apple were competitors. The GoGear series of media players was one of the main competitors of Apple's iPod. Later, Philips began producing speakers that support the iPod. Then Philips acquired the then iPhone/iPad accessory manufacturer called DLO and became one of Apple's leading accessory manufacturers.

Philips has developed many very unique speakers, headphones and other products. Funai will then take over the production of these products and brand their own products.

After exiting the consumer electronics industry, Philips will focus its attention on medical care and the rapidly growing field of LED lighting and related control systems in recent years.


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