Could not miss this conversation
I am from Europe and can talk about what is here
One of my first really good monitors was Philips - before that one I had many different others
My brother had purchased one of the first 200Hz Philips flat screen 16:9 TV quite close after I had mine Sony 4:3 – and I was always jealous to see Philips great performance.
Quite many of my best friend had Philips TVs and the picture quality was always supper as well as the quality of the tuner. I believe at that time Philips tuners were the best ones in its class.
Unfortunately this became a bit differently lately. Having pressure from outside and outsourcing the assembly played bad tricks to the quality and consumer loyalty.
This had just helped margin erosion, completed by tight competition from Samsung, LG, Panasonic and few other players, the tax policy in NL and overall economical situation...
All that made this segment not profitable enough. As Philips has many divisions, if I am not mistaking it was about 7 few years ago, the Consumer Electronics was one of the worst ones from the margin prospective.
It is not a surprise that it was sold to clean-up the portfolio. look on lighting - ban on classical bulbs becomes a golden stream for Philips as one of two biggest player on LED market (almost a monopoly
I guess there could be some internal room for improvement, but due to absolutely different business model nature of all these divisions mass scale did not work there.
What I can definitely say, the buildings, occupied by CE division, were renovated - they are all 100+ years old, area cleaned, and it became one of the most lovely places to leave next to Philips headquarters ;-)
I guess Philips trademark will disappear from CE devices quite quickly as it has happened with IBM deal with Lenovo.
Btw, the "DiamondClean" should belong to the Healthcare division, hence should not be affected