TP Vision - Philips TV & Sound- enjoys record business performance
01 September 2020
Following 3 years of consistent growth, TP Vision continues to grow Philips TV & sound in first half 2020
Philips Sound starts to show benefits of new investment and recent relaunch
Amsterdam September 1, 2020 – TP Vision, the company behind Philips TV & Sound, has announced its latest business results, news, and new products to be launched in the fall of 2020. Due to the current COVID-19 situation, the traditional global press conference hosted in Berlin during IFA, was replaced by a unique interactive online press event to an audience of over 1500 people from across the world. Kostas Vouzas, CEO TP Vision Europe, proudly presented details of record business performance before showcasing the company’s newest products.
Growth in revenue and market share by value of 30% in past three years
Profitability maintained throughout
2020 sales YoY compared to 2019: Growth: 8% (average growth in the market is 4%) TV Performance Series: sales doubled for two years running Flagship OLED+ segment: doubled sales
More than 200 Awards across Europe for Premium OLED TVs
Overall business has doubled under TP Vision guidance - driven by significant investments and renewed product portfolio
Amsterdam based TP Vision is the company responsible for the design, development, manufacturing, sales and marketing of Philips-branded TV sets (in Europe, Russia, Middle East, South America, India and selected countries in Asia-Pacific) plus, more recently, Philips-branded consumer audio products (Globally) under trademark license by Koninklijke Philips N.V.
It might be a surprise to some that, in the past three years, Philips TV has been one of the fastest growing, profitable and innovative TV brands. But then Philips TV has always played a pivotal role throughout the history of TV. For the last eight years under TP Vision’s guidance the brand has enjoyed continuous investment allowing Philips to return to its place as the reference mark in terms of TV picture quality, sound quality, innovation and outstanding design.
The Philips TV brand has enjoyed a 21% growth in sales in Europe and the past 3 years with a further growth in revenues and market share by value of more than 30% - all achieved while remaining profitable.
Profitability has been maintained by enjoying growth across the whole range but also specifically in two key areas. Philips TV created the Performance Series to offer consumers a simple choice: the quality and performance of a premium set, including Philips unique Ambilight technology, but all at a mid-range, ultra-competitive price.
The Performance Series product is confidently presented under the promise ‘The One to watch’, emphasising that this is the one TV set that has everything a consumer may need. The response has been a near doubling in sales for the range in each of the past two years
A similar success has been achieved in the premium OLED category. Under the name OLED+, TP Vision developed a unique combination of OLED technology, Philips exclusive Ambilight system, the award winning P5 picture processing and uncompromised sound via its partnership with, specialist audio company, Bowers & Wilkins. Philips TV’s sales have increased by more than 50% year-on-year in this category alone.
TP Vision will now turn a similar focus to the Philips Sound brand including a relaunch for Philips Fidelio with premium headphones and soundbars.
In the sound category, new launches are presented in both soundbar and headphones, with particular attention for the premium series in noise cancelling headphones (Philips Fidelio L3) as well as the Philips Fidelio sound bars B95 & B97.
The Philips’ brand for both TV & Sound has always been held in a special place by European consumers. TP Vision will continue to invest and develop and grow the consumer electronics category with innovation in European design, connectivity, premium quality and a unique experience of picture and sound.
About TP Vision
TP Vision Europe B.V. (‘TP Vision’) is registered in the Netherlands, with its head office in Amsterdam. TP Vision is a wholly owned company of TPV Technology Limited (‘TPV’), which is one of the world’s leading monitor and TV manufacturers.TP Vision is a consumer electronics key player in TV and audio entertainment. TP Vision concentrates on developing, manufacturing and marketing Philips-branded TV sets (Europe, Russia, Middle East, South America, India and selected countries in Asia-Pacific) and Philips-branded audio products (Globally) under trademark license by Koninklijke Philips N.V. We combine the strong Philips brand with our product development and design expertise, operational excellence, and industry footprint of TPV. We believe in creating products that offer a superior audio and visual experience for consumers.
Follow us on Twitter: @TPVision
Media contact: Andrew Burslem. Tel: +44 203 494 4422. E-mail: firstname.lastname@example.org