Philips’ Home Appliances division enjoys “strong interest” from potential buyers, reports Eindhovens Dagblad, citing a presentation that CEO Frans van Houten gave on Tuesday, prior to the start of consumer electronics trade show Ifa. According to Van Houten, the sale process is on schedule despite the coronacrisis. He expects negotiations to start this fall.
The sale of Home Appliances was announced last January. The company said that it no longer considered the division with annual sales of about 2.3 billion euros “a strategic fit for our future as a health technology leader, as we choose to further sharpen our focus along the health continuum.” Philips is keeping products such as electric toothbrushes and shavers, as personal care and healthcare markets are converging, said Van Houten.