Samsung may acquire the Philips’ appliances unit soon. The same possibility is also applicable to the other South Korean Giant LG. Both these Korean brands may come up with their small home electronics product offerings. Though there is no official confirmation from their side.
The Dutch company, Philips already announced its plan to sell its domestic appliances business in 2021, and as per a report ofPulse, Samsung might be planning to take that division. The uncertainty is also there because Samsung generally focuses on high-end products and white goods.
Philips is actually trying to focus on the healthcare sector. As a result, it is on the way to sell the audio and video business as well as the lighting department.
Same as Samsung, there is also a high possibility for LG, as I told earlier. We all know that Samsung is currently selling refrigerators, ovens, washing machines, and some other under its home appliances section. If it acquires the Philips’ part, then it can reach to the small home electronics products as well.
At present, Philips has its research and development centers in India, Hong Kong, Singapore, and Italy having around 4,700 employees. Other than that, there are factories in Austria, Brazil, and China.