The end of another era: Philips is leaving the consumer electronics market

In late January, Philips announced its withdrawal from the consumer electronics market and the sale of this part of the business of the Japanese company Funai. It is rather difficult to comment here: one of the mastodons and, in fact, one of the founders of the market could not stand the marathon race. The reason is trivial - big losses. As the representatives of Philips themselves say: “Since the transition of entertainment to online, people have stopped buying Blu-ray and DVD players”

It is rather difficult to overestimate the influence of Philips on the development of consumer electronics. It is enough to remember that it is they who:
- in 1963 developed a tape cassette that became the standard
- in 1983, together with Sony, they introduced a compact disc to the market
- In 1990, developed a standard DVD. Appliances based on it has become the fastest growing category of consumer electronics in the history of mankind.

Now Philips will focus on medical technology and light devices. But we will not remember them for that.