TP Vision announces continued business success & growth

Berlin, August 31st, 2022

TP Vision announces continued business success & growth of Philips TV & Sound business

  • Business growth is based on Philips OLED and Ambilight TV sales plus Philips Sound products in both the premium, and mid-range segments.
  • Philips Sound product sales have more than doubled in the past two years.
  • 2022 YTD performance:
    Sales of OLED Ambilight TVs outpaced growth in the TV market with a YOY increase of 48% in ’22.
    TP Vision has continuously delivered on its promise of growth in Sound products with a more than 20% sales increase in 2022 driven by additional headphones and soundbar business.
    The continued focus on GO Sports headphones is an outstanding business highlight with sales increasing by 86% in 2022.
    Company’s dedication to the much loved Ambilight system results in sets with Ambilight accounting for almost 80% of the Philips TV business.
  • Professional recognition of the company’s unique innovation in delivering exceptional picture and sound quality with outstanding European design continues with 174 Awards from European media experts in 2021, with 99 awards so far in 2022.
  • Newly launched products are already winners – OLED+937, OLED807, 8807 LCD TVs plus the Fidelio FB1 soundbar have all won prestigious EISA Award winners as products of the year 2022/23.
  • Significant progress with sustainability initiatives continues at the heart of the business.
  • TP Vision plans to intensify its successful collaborations with Wings for Life World Run and Team Jumbo Visma to further build the GO Sport headphones business while similarly with Bowers & Wilkins on the new delivery of high-end premium Ambilight TVs.

Kostas Vouzas, CEO, TP Vision (Philips TV & Sound Europe & Americas) has announced details of the company’s 2022 interim business results – plus revealed the company’s exciting new products for the second half 2022 – during the TP Vision Berlin Live press, partner and key retailer event.

Overall, the combined business has continued to enjoy growth with the performance of Premium OLED Ambilight TVs and GO Sports products as highlights of the company’s success.

Commenting on the announcement TP Vision CEO Kostas Vouzas said: ‘We all live in very challenging times, but in such times, it is fantastic to know that we can count on the outstanding support of our customers, partners and retailers. The consumer experience we are able to deliver via our multi-award-winning products seems to be resonating very well in the marketplace, allowing us to deliver a consistent double-digit growth in OLED TV and our Sound business.”

Philips OLED Ambilight TV’s ever-increasing popularity is due to the set’s acknowledged outstanding picture quality created by a combination of the latest OLED panel technology with TP Vision’s in-house developed P5 AI picture processing suite – a winner of multiple awards and widely considered to be the best available.

The uniquely immersive Ambilight technology also continues to receive an exceptionally positive response from consumers. TP Vision will introduce a new and improved ‘Next Gen’ version of the technology in the 2nd half of 2022 and will relaunch its hugely successful 100-day Ambilight trial on new TV sales.

Ambilight’s share of Philips TV sales by value continued to grow to almost 80% in 2022 with TP Vision committed to further growth of Ambilight equipped sets as its core strategy – both in terms of the overall share of the company’s TV business and also in absolute terms in the TV market.

Philips Sound continued to enjoy strong growth in headphones sales in 2022 with plans in place to drive further growth. The focus on the dedicated sports segment has been hugely successful, with new GO Series headphones models and newly introduced rugged portable GO wireless speakers, plus the continued collaboration with Team Jumbo Visma and the partnership with Wings for Life World Run – the world’s biggest running event – all contributing to a YTD sales increase of 86%.

Better by Design

The best in European Design is a core product strategy for TP Vision and a key differentiation for the consumer.

The company has consistently invested in exceptional product design, partly by having its own design team based in Amsterdam but also in the pioneering inclusion of ‘real’ materials such metal, glass and leather.

The outstanding quality of this work has gained much official recognition and 2022 has been no exception. The new OLED+907 and OLED+937 TVs and the Fidelio Home Entertainment system have all won both prestigious iF and Red Dot design awards while the new rugged GO wireless speakers have also won a Red Dot design award.

Sustainability & CSR

Having formalised sustainability and CSR as a core part of the TV & Sound business plan in 2021, TP Vision began to deliver some key examples of its strategy in 2022, both in terms of product developments and partner activities.

The company has significantly increased its investment in sustainability and CSR with both seen as central to Philips TV& Sounds’ future.

All 32”, 43” and 50’ TV models have already switched to polystyrene free, eco packaging, with larger screen size models to shortly follow. In addition, the company has now stopped producing full colour printed TV outer packing and is using soy-based inks.

A similar activity is being implemented for Philips Sound including the accelerated replacement of plastic inner packaging with sustainable materials for Philips headphones and the company has committed to having plastic-free eco-packaging for all sound products by 2024.

TP Vision has also recently started its partnership with The Explorers supporting their project to create archive content of Earth’s natural, cultural and human heritage and wonders. The company believes that making a positive environmental impact starts by creating awareness by partnering with like-minded organizations such as The Explorers where the partnership can offer a perfect mix of high technology and sustainability.

All Philips Ambilight TVs are now pre-installed with apps and free trial subscriptions from some of the company’s main partners, including The Explorers, DAZN, Paramount and Rakuten.

Media contact:

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 wholly owned by TPV Technology Limited (“TPV”), one of the world’s leading monitor and TV manufacturers.

TP Vision is a major consumer electronics player in TV and audio entertainment. TP Vision focuses on the development, production and marketing of Philips television sets (Europe, Russia, Middle East, South America, India and selected countries in Asia-Pacific) and Philips audio products (worldwide). We combine the strong Philips brand with our product development and design expertise, operational excellence and TPV’s industry experience and position. We believe in creating products that provide consumers with a superior audio and visual experience.

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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