Philips sells its household arm to Chinese investor

Avatar for Martijn Hoogeveen
By
Philips sells its household division
Likethumbsup(1)Dislikesthumbsdown(0)

Philips sells its household appliances division to Chinese investor Hillhouse Capital for 3.7 billion euros ($4.37 billion) according to Reuters. Philips, which divested Signify, its computer display and audio divisions before, focuses purely on medical devices and solutions. A choice that is appreciated by the financial markets in current pandemic times. “Going forward, our focus is on extending our leadership in health technology.”, says Frans van Houten, CEO.
The sale of the household division is not geopolitically sensitive.

What does this divestment mean for the Philips brand in the e-commerce market? In the short term not much. We expect that during and after the divestment, the familiar Philips brand will still be on “its” household appliances. Also after previous divestment cases, the Philips brand is still in use. TPV licenses the Philips brand for TV and computer displays, audio, and other devices, and Signify continues to license the brand for its lighting products. That may come to an end after a number of years.

That Philips sells its household arm leads to consolidation in a number of old tech categories. The investor will probably resell it or list the acquired business at a later point in time. It confirms the position of China as the global manufacturing hub for tech products.


Subscribe to our newsletter and stay updated.
Loading

Leave a Reply

Your email address will not be published.

Icecat xml

Open Catalog Interface (OCI): Manual for Open Icecat XML and Full Icecat XML

This document describes the Icecat XML method of Icecat's Open Catalog Inte...
 November 3, 2019
 October 4, 2018
Manual

Manual for Icecat Live: Real-Time Product Data in Your App

Icecat Live is a (free) service that enables you to insert real-time produc...
 June 10, 2022
Manual for Icecat CSV Interface

Manual for Icecat CSV Interface

This document describes the manual for Icecat CSV interface (Comma-Separate...
 September 28, 2016
Manual

Manual for Open Icecat JSON Product Requests

JSON (JavaScript Object Notation) is an increasingly popular means of trans...
 September 17, 2018
Icecat Addons plugins

Icecat Add-ons include Magento, PrestaShop, Shopify, Magento, Google Shopping, Pimcore, Bol.com. NEW: Mirakl

Icecat has a huge list of integration partners, making it easy for clients ...
 November 24, 2022
 January 20, 2020

Iceclog: Content Log New Ideas like a Free Vendor Central

“Iceclog” (Icecat content log) is the Icecat ...
 June 26, 2019
Manual

Manual Personalized Interface File and Catalog from Icecat

With Icecat, you can generate personalized or customized CSV or Excel files...
 May 3, 2022
New Standard video thumbnail

Autheos video acquisition completed

July 21, Icecat and Autheos jointly a...
 September 7, 2021