Philips to relaunch its audio/video business as Woox Innovations

Following the termination of its agreement to sell its audio/video business to Funai in Japan, Philips is relaunching the business as a new standalone subsidiary under the Woox Innovations name.

The new division will have more than 2000 employees worldiwde and annual sales of $1.5bn. The in-house team will include more than 50 designers and 30 sound experts.

Woox Innovations - the name Woox is taken from some of Philips's previous products – will design and produce headphones, connected audio products, speaker docks and home cinema systems. It will continue to build on its Fidelio range, including the Award-winning Philips HTL9100 soundbar and Fidelo M1 headphones.

In September, Philips announced that it was collaborating with DJ Armin van Buuren, five-time winner of DJ Mag's Top 100 DJs poll. Armin will continue to work with Woox Innovations to develop Philips-branded audio products for DJs and music fans.

"It's our mission to deliver meaningful innovation in connected entertainment," says Wiebo Vaartjes, CEO of Woox Innovations.

By Andy Clough

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Andy is Global Brand Director of What Hi-Fi? and has been a technology journalist for 30 years. During that time he has covered everything from VHS and Betamax, MiniDisc and DCC to CDi, Laserdisc and 3D TV, and any number of other formats that have come and gone. He loves nothing better than a good old format war. Andy edited several hi-fi and home cinema magazines before relaunching whathifi.com in 2008 and helping turn it into the global success it is today. When not listening to music or watching TV, he spends far too much of his time reading about cars he can't afford to buy.

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