Philips turns off TV in turnaround

The Philips name has been synonymous with trusty TV sets and reliable video players; but in the overhaul of this lumbering Dutch behemoth over the past two years, both have been ditched.

Nothing, it seems, is sacred in chief executive Frans van Houten’s makeover of Philips to focus on the healthcare, lifestyle and energy needs of ageing and increasingly prosperous consumers - whether high-margin electric toothbrushes and shavers, street lighting or hospital equipment.

via Business feed http://www.scmp.com/business/companies/article/1149223/philips-turns-tv-turnaround