The appliances business, which includes kitchen robots, coffee machines and garden tools, had sales of 2.3 billion euros ($2.5 billion) last year. “We will look for ways to sell or make it independent,” CEO Frans van Houten said. “The idea is that Philips will no longer be the owner of that business and that we then use the proceeds to reinvest in the company,” van Houten said. Philips said its health business, now its main activity, chalked up sales of 5.85 billion euros last year. Van Houten said the results were “satisfactory,” noting that US-China trade tensions had impacted activity.

Source: The Guardian January 28, 2020 12:11 UTC