Philips Divests Multimedia Devices Business to Recommit to Lighting Focus

Posted in

July 12, 2025

Rising Popularity of LED Light Bulbs in Japan

Philips has sold its multimedia devices and accessories business to Japan’s Funai Electric for $201.8 million in a cash and brand licensing deal, as announced by CEO Frans van Houten on Tuesday. This strategic move aims to shift away from the consumer electronics sector, which has been identified as margin dilutive to the company. Van Houten has been focused on streamlining operations over the past two years, prioritizing more profitable divisions like LED lighting and healthcare technology. Despite facing a $482 million net loss in the fourth quarter, an increase from the previous year, Philips aims to achieve $1.48 billion in savings by 2014, following $635 million in cost reductions at the end of 2012.

Original source:

https://www.ledinside.com/news/2025/07/philips_sells_multimedia_devices_business_20130201

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