Philips Consumer Lifestyle
 |
|
| Division | |
| Industry | Electronics |
| Founded | 2008 |
| Headquarters | Amsterdam, the Netherlands |
|
Key people
|
Frans van Houten (CEO) |
| Products | Consumer electronics, small appliances |
| Revenue |
 €10.576 billion (2006) |
|
€416 million (2006) |
|
| Parent | Philips |
| Website | www.consumer.philips.com |
Philips Consumer Lifestyle is a division of the Dutch multinational electronics company Philips which produces consumer electronics and small appliances. It is the only Philips division headquartered in Amsterdam, the Netherlands.
Philips Consumer Lifestyle was formed in 2008 from the merger of Philips Consumer Electronics and Philips Domestic Appliances and Personal Care.
Philips receives royalties from the sale of every DVD and Blu-ray.[1]
While Philips' first product was manufactured in 1891, the first product that would fit in the Consumer Electronics division was a television, experimentally manufactured in 1925. In 1927, Philips began producing radios. Only five years later, Philips had sold one million of them. One other major product release came in 1963, when the Compact Cassette was introduced.
After Philips Consumer Electronics acquired companies as Magnavox and Sylvania in the late 1970s, Philips managed to sell their 100-millionth TV-set in 1984. Philips still is the European television market leader, as well as the third in the world.
Because of the enormous growth, Philips decided to split up their company divisions during the 1990s. While Philips CE contains most of the Consumer Electronics, other products such as Philips' shavers were located under the Domestic Appliances division.
As of 2012 Philips is no longer directly involved in TV manufacturing, because it has outsourced it to a joint venture with TPV Technology, called TP Vision.
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Wikipedia