Philips is to sell its domestic appliances business to Hillhouse Capital

Posted on by

Philips is to sell its domestic appliances business to Hillhouse Capital with a 15 year licensing deal in the last of its re-structuring deals.

The domestic appliance business had sales of EUR2.2bn in 2020 in kitchen, coffee, garment care and home care devices as part of total sales of EUR19.2bn for Philips. The license agreement has annual payments that represent an estimated net present value of approximately EUR 700m, resulting in a total deal value of approximately EUR4.4bn. The deal is expected to be completed in the third quarter of 2021 subject to customary closing conditions. Philips and Domestic Appliances will enter into an exclusive brand license agreement to use the Philips brand and certain of Philips’ other domestic appliances brands for manufacturing, sales, and marketing globally for a period of 15 years, which is renewable subject to the terms of the brand license agreement. This will see the Domestic Appliances business presented as a discontinued operation in Philips’ financial statements from the first quarter of 2021, minimising the financial impact of losses from the Covid-19 pandemic. “I am pleased that in Hillhouse Capital we have found a new home for the Domestic Appliances business to further expand on its market leadership, strong brand and pipeline of new innovations,” said Frans van Houten, CEO of Royal Philips. The deal, which started in January 2020, continues the focus for Philips as a medical technology company, after its recent acquisition of medical data management companies, although it has kept the personal health business. “This transaction concludes our major divestments,” said van Houten. “Going forward, our focus is on extending our leadership in health technology and continuing our transformation into a solutions company supporting professional healthcare customers achieve the Quadruple Aim and consumers with their personal health.” This includes the EUR 3.2bn Personal Health businesses as part of the integrated health continuum approach through consumer-driven product and solutions innovation in areas such as oral healthcare, personal care, and mother & child care, says van Houten. “We look forward to joining forces with Philips to expand into new markets and capture more growth opportunities globally,” said Lei Zhang, Founder and CEO of Hillhouse Capital. “We are aligned with Philips’ mission to bring high quality products to support healthy and fulfilling lifestyles for consumers across the globe.” The domestic appliance business has 7000 staff and operates in 100 countries. The headquarters will remain in the Netherlands, says Zhang. “I am convinced that together with Hillhouse Capital’s deep e-commerce, supply chain and digital expertise, we will be in a great position to continue bringing meaningful innovations to the consumer’s homes,” said Henk de Jong, CEO of Philips Domestic Appliances. “Based on our market leading product portfolio, broad customer and consumer base and R&D capabilities, we are keen to keep supporting families and individuals to lead healthier and happier lives. We look forward to working with Hillhouse to capture additional growth opportunities.” Hillhouse is backed by US universities including Yale, Stanford and Princeton and has strong links in China with investments in Tencent and JD.com, but has also invested in an organic baby food and snack manufacturer called Little Freddie, a Californian craft beer maker and a pet food brand. https://www.philips.com

Start-up makers are transforming Japans electric appliance market,

Posted on by

Start-up makers are transforming Japans electric appliance market, making one of a kind, practical items that are testing major set up producers like Panasonic Corp. also, Sharp Corp.

One such item is The Toaster, dispatched in 2015 by Balmuda Inc., a start up producer in Musashino, Tokyo. This new sort of toaster oven prepares bread utilizing steam, which keeps the outside of the bread wet while safeguarding the first delicate surface of the fixings.

The Toaster costs ¥23,500, a few times more than ordinary toaster ovens, it sold a record number of units among April and June 2020.

While significant makers will in general offer an assortment of models for a solitary sort of apparatus, Balmuda offers just one of every sort, expecting to speak to customers through a basic and clear deals approach.

“The items are a decent counterpart for retail chain clients, who have gotten more specific about their ways of life,” said an authority of the Hankyu Umeda Main Store in Osaka. The retail chain has a Balmuda shop.

The organization has been performing great and was recorded on the Tokyo Stock Exchange’s Mothers market in December 2020. A specialist said, “Customers may have upheld the beginning up’s message that it is top notch, particularly in this field.”

As per the Japan Electrical Manufacturers’ Association, the complete estimation of family electric apparatuses, like cooking apparatuses, fridges and clothes washers, dispatched in Japan crested at ¥2.676 trillion out of 1991 and afterward declined, contracting to ¥1.965 trillion out of 2009. In any case, volume has been on a recuperation pattern since 2010. It came to ¥2.536 trillion out of 2020, the third-most significant level ever, supported by “settling utilization” because of the novel Covid emergency.

It had been accepted that the market for homegrown electric apparatuses was not, at this point practical. Regardless of this, a whirlwind of youthful organizations entering the area somewhat recently has changed the circumstance.

Sendai-based Iris Ohyama Inc., one of these organizations, produces machines with negligible capacities at costs 30% lower than those of the significant makers. Iris Ohyama is profoundly respected for its item arranging abilities. It has a 70% portion of the market for little futon dryers, which get high evaluations for their usability.

“The significant organizations’ items are multifunctional yet costly. There are not many moderate items with thoughts, so there are a ton of chances for us,” said an authority responsible for item improvement at Iris Ohyama.

Miele AWE Awards

Posted on by


It’s the first time for Miele to participate in AWE (Appliances & Electronics World Expo), and they won 5 awards

  1. Most Popular Award x2, with products Washing Machine WWV980 & Tumble Dryer TWV 680
  2. Best Design Award, with product Triflex HX1 Cordless Vacuum
  3. Best Innovation Award, with product Dialog Oven 7860
  4. Top Award, with Generation 7000 BUILT-IN Kitchen Appliances

Appliance & Electronics World Expo 2021

Posted on by

Appliance & Electronics World Expo 2021 (AWE2021), with the theme of “Smartize the Future”, came to a close successfully at the National Exhibition and Convention Center (NECC), Hongqiao, Shanghai, China on March 25, 2021.

According to the data from AWE’s organizer China Household Electrical Appliances Association (CHEAA), the number of AWE2021 visits exceeded 350,000, making a historic high. 

AWE2021

With its exhibition area extended to 150,000 square meters, AWE2021 brought together nearly a thousand exhibitors at home and abroad, including international heavyweights such as Gaggenau, Miele, GE Appliances, Bosch, Siemens, Fisher & Paykel, Panasonic, Sony, Sharp, AEG, Gorenje, ASKO, SMEG, Whirlpool, Hitachi, Philips, Laurastar, 3M, Pentair, Westinghouse and Shark, domestic big names such as Haier, Hisense, TCL, Skyworth, Konka, Meling, Gree, Aux, Fotile, Robam, Vatti, Vanward, Macro, Galanz, Joyoung, Supor, Lexy, Ecovacs, Meida, Golden Home, Marssenger, Sanfer, HEGII, Airmate and Flyco, technology giants and unicorn AI companies such as JD.com, iFLYTEK, 360, Tuya, Topband, Ayla, Xingluo Technology, Aispeech and SoundAI, and core component and material suppliers such as LGD, CSOT, GMCC & Welling, Jiaxipera, Nidec, Donper, Highly, Schott, Higasket and Saite. The consistent support of these established enterprises demonstrated the value and development prospects of AWE.

On the evening of March 23, AWE Live Stream Night Show was launched on Tmall, JD.com and Kuaishou with AWE exhibition booths as the background. Thanks to the wonderful display of enterprises, the live stream show was wrapped up in a more scenario-based way than those live stream shows hosted by internet celebrities. According to incomplete statistics, every enterprise participating in the AWE Live Stream Night Show attracted millions of viewers and tens of millions of comments on average.

Under the theme of “Smartize the Future”, AWE2021 showed new scenarios about smart life that make the industry and users excited and new blockbusters released by exhibitors. More and more companies are taking AWE as their first option to release their new products, new strategies, and new ecosystem.

5 best quiet air purifiers of 2021, according to expertsThe quietest air purifiers include options from Blueair, Dyson and Philips.

Posted on by

https://www-nbcnews-com.cdn.ampproject.org/c/s/www.nbcnews.com/news/amp/ncna1260759
5 best quiet air purifiers of 2021, according to experts”, stated the headline in todays NBC News, and those ‘experts’ are Quiet Mark!

NBC News writer, Hanna Horvath asked Quiet Mark CEO/ Founder, Poppy Szkiler to provide detailed information on Quiet Mark’s technical assessment processes, to understand what it takes for an Air Purifier to achieve Quiet Mark certification.

Webcast ahead of the Annual General Meeting with Electrolux Chairman

Posted on by

A webcast ahead of the Annual General Meeting with Electrolux Chairman and CEO is now available on www.electroluxgroup.com.

As previously communicated, the Annual General Meeting on March 25, 2021 will due to the coronavirus pandemic be held without physical presence of shareholders. In addition to the information already published ahead of the Annual General Meeting, Electrolux Chairman of the Board Staffan Bohman and President and CEO Jonas Samuelson share their reflections on 2020 and the strategy forward in a webcast. The webcast is available here http://www.electroluxgroup.com.

Dong Mingzhu, Chairperson and President of Gree Electric Appliances,

Posted on by

Recently, Fortune China released a ranking of China’s 50 Most Influential Business Leaders in 2021. Dong Mingzhu, Chairperson and President of Gree Electric Appliances, rounding out the top 10, and she is the highest-ranking female entrepreneur on the list.

From a small factory with annual production value of only 20 million RMB to the world’s largest air conditioning company, Gree has grown into an international home appliances enterprise after more than 20 years of development

Belling Bluetooth® oven with the free Zeus™ app.

Posted on by

Open the capability of your Belling Bluetooth® oven with the free Zeus™ application. Accessible on iOS and Android gadgets, this smart oven clock application permits the customer to distantly set, screen and change cooking times – no more getting up from the couch to check your timer

!Zeus™ is compatible with a growing number of Belling products including built-in oven

to see more have a look at Belling website https://www.belling.co.uk/en-gb/zeus#:

Haier, The global no 1 major appliance brand

Posted on by

Haier continues to establish itself as the number one consumer electronics brand in the world, according to leading consumer electronics brands published by Euromonitor International, a globally renowned research organization since 2021. For the 12th time, Euromonitor has been recognized as a leading global brand for basic devices according to Euromonitor data in recent years. Against the backdrop of growing international competition. Haier’s robust growth has garnered widespread attention, and industry analysts are keen to explore the driving forces behind Haier’s success. Haier is working to develop innovative and intelligent devices that consumers can use to communicate over the Internet. This enables multidirectional communication between consumers and various smart devices to create smarter life experiences.