Philips to put its household appliances division on sale
Philips is planning to engage interested parties about its household appliances division, which it has put on sale. The process, which was decided upon after disappointing 2019 sales figures, is expected to be completed in a year. Turnover had reached just €2.3bn for the year, which was not enough to warrant a continuation of business. Philips previously shed its lighting and televisions business. Moving forward, it will focus on personal care, with products such as razors and toothbrushes, mother and childcare, beauty products and medical equipment.