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Philips to sell domestic appliances business

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Philips said it would carve out the business in sales last year, in the coming 12 to 18 months. YahooFinance

AMSTERDAM - Dutch health technology company Philips is looking to sell its domestic appliances division, whose coffee machines, air purifiers and airfryers no longer fit with the company's range of hospital equipment and personal health products.

"This business is not a strategic fit for our future as a health technology leader," Chief Executive Officer Frans van Houten said. Philips in October already said it would miss its target, as the trade war between the United States and China forced it to shift production and to seek other suppliers for components.

 

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