5th consecutive year of growth for TP Vision

Amsterdam, January 27th, 2022

TP Vision enjoys fifth consecutive year of growth driven by increased investment and popularity of the Philips brand for TV & Sound

  • TP Vision enjoyed continued revenue growth and sustained profitability for the fifth year in a row thanks to strong growth by Philips Sound plus growth in premium Ambilight TV sales.
  • 2021 YoY business comparison to 2020:
    • Overall growth for the Philips TV & Sound business of 17%.
    • Ambilight TV enjoyed strong growth driven by an impressive increase in sales of OLED TVs -including OLED+ models in the premium OLED segment – of 53%.
    • ‘Performance Series’ TV sales continue to grow strongly with the concept also includ-ing a soundbar model from 2021.
    • Overall soundbar sales increased by a huge 70%.
    • Strong growth in sales of Fidelio products.
    • Hugely successful GO sports headphones series launched in 2021 and – supported by the partnership with world leading cycling & skating team Jumbo Visma.
  • Critical recognition of superior consumer driven tech solutions from more than 170 media awards across Europe in 2021 with 100 awards for TV and 74 awards for Philips Sound products.
  • New initiatives continue sustainability’s progress to the heart of the business.
  • Partnerships with other European specialist businesses continue – including Bowers & Wil-kins, Abbey Road Studios, Team Jumbo Visma and Muirhead.
  • Partnerships announced for the Wings for Life World Run,The Explorers and the Tinnitus Free Foundation.

Kostas Vouzas, CEO, and Martijn Smelt CMO TP Vision (Philips TV & Sound) announced the full details of the company’s 2021 business results – plus revealed the company’s new products for the first half 2022 – during January’s TP Vision Live, annual online press event.

Overall, the combined business increase was 17% driven by Philips Sound and the premium Am-bilight TV segment.

Philips Fidelio branded products enjoyed a very successful year with the relaunch of Fidelio gather-ing pace in part supported by a fantastic reception for the X3 and L3 headphones and the B97 soundbar, and although TP Vision has needed to effectively rebuild Fidelio, sales have quadrupled YOY with further increases predicted as new product lines are introduced in 2022.

Philips Sound enjoyed further growth via the dedicated sports headphones launched in 2021. The company will seek to increase its focus on the sports segment in 2022 with the launch of new headphones and will add rugged, portable wireless speakers to the range – plus through the con-tinued collaboration with Team Jumbo Visma, and a new partnership with world’s biggest running event, Wings for Life World Run.

Sales of Philips Ambilight TVs have continued to enjoy strong growth partly driven by a 53% in-crease in sales of OLED models – including the premium OLED+ sets featuring Bowers & Wilkins sound systems.

Philips OLED Ambilight TV’s popularity is due to the set’s outstanding picture quality created by TP Visions’ inclusion of the latest panel technology in combination with the company’s continually de-veloped P5 AI picture processing suite – winner of multiple awards in 2021 and widely considered to be the best available.

Ambilight has also played a key role in the continued consumer popularity for the company’s inno-vative Performance Series concept.

The Performance Series is marketed under the promise ‘The One to watch’, emphasizing that this is ‘The One’ TV set that has everything a consumer may need – A TV set with the quality and per-formance of a premium model but at a mid-range, ultra-competitive price.

The concept of ‘The One’ was extended to soundbars in 2021 helping to drive the overall soundbar segment increase in business of 70% YOY.

Sustainability & CSR

The Philips brand is widely acknowledged for its sustainability efforts. TP Vision formalised sus-tainability and CSR into a core part of the TV & Sound business with its first annual sustainability report in 2021. The company has also significantly increased its investment in sustainability and CSR with both seen as central to Philips TV& Sounds’ future.

In 2022 these actions will be taken to the next level, including the company stopping production of full colour printed TV outer packaging and accelerating the replacement of plastic inner packaging with sustainable materials for Philips headphones.

TP Vision will support the Wings for Life World Run event in 2022, joining its
campaign to encourage sports participation (as their slogan goes: we’re running for those who can’t), while raising funds for spinal cord injury research.

TP Vision has also announced support for The Explorers and its project to create archive content of Earth’s natural, cultural and human heritage and wonders. Philips TV will use The Explorers brand-ed content for demonstration of Philips TV’s, helping to raise awareness for the project and the cause.

Philips TV & Sound is also keen to ensure that consumers not only enjoy listening to its products but that they safely continue to do so and will support the Tinnitus Free Foundation in their work in raising awareness, preventing, and ultimately finding a cure for tinnitus.

Global Partners

The partnerships with Bowers & Wilkins and Team Jumbo Visma will continue in 2022 as part of TP Vision’s programme of working with exceptional European specialist companies including Abbey Road Studios, Muirhead and Kvadrat.

Media contact TP Vision:

Andrew Burslem
Tel: +44 203 494 4422
E-mail: info@cmcpr.co.uk

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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, 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.

The content in the news releases is accurate at the time of publication but may be subject to change without notice. All trademarks mentioned in this news release are the property of their respective owners.

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