Philips ending consumer electronics division
Philips has decided to end its 80 year run in consumer electronics after announcing it can no longer compete with companies like Samsung and Apple. The news comes after the Dutch company reported losses of €358 million in the fourth quarter of 2012, up from a loss of €162 million loss during the same time in 2011. The company has sold off its consumer electronics assets to Japanese company Funai Electric. Philips plans on focusing on more narrow industries like medical equipment. [Source: The Wall Street Journal]
























