Philips sees off Domestic Appliances

CEO Frans van Houten is cutting off another limb from the Philips body. After the television and lighting business, this time Domestic Appliances is on the chopping board. The division is no longer “a strategic fit for our future as a health technology leader, as we choose to further sharpen our focus along the health continuum,” explained Van Houten in a written statement.

Domestic Appliances has annual sales of about 2.3 billion euros from kitchen appliances, coffee makers and vacuum cleaners. Products such as electric toothbrushes and shavers will not be included in the divestment, as they’re part of the Personal Health branch.

Philips hasn’t yet decided in which way Domestic Appliances is to be seen off. Previously, Van Houten sold the TV activities to the Chinese company TP Vision, while Lighting was spun out as a public company (now called Signify). Philips sold its last portion of shares last year.