Turmoil in Consumer Electronics Market

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Cryptoman
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Re: The secret of success
Cryptoman   2/10/2013 12:18:43 PM
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I don't think that manufacturing undependable and fragile products that do not last is key to success in business. If a product I purchase breaks down too soon after I buy it or it does not meet my expectations, the manufacturer goes into my blacklist immediately. Then I turn to alternatives that will keep me more satisfied.

Purchasing decision is the only power a consumer has to be able to push the manufacturers to put their act together and to offer more dependable and affordable products. Declining sales for a company is the most effective message today in the presence of cutthroat competition.

I believe success depends on 3 things:

1 - Offering dependable products thereby making a name for yourself that people trust.

2 - Being innovative enough to come up with new lines of products that make the consumers want to replace the old kettle they have been using for a long time.

3 - Having a bit of luck to avoid getting hit by uncontrollable economical crises, natural diseasters etc.

 

t.alex
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Re: The secret of success
t.alex   2/10/2013 10:26:27 AM
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With the fast changing world of technology, people simply buy stuff from LG or Samsung at reasonably cheap price, and then change to new ones the following year. There is no need to buy something from Philips that can last 30 years

mfbertozzi
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Re: Dormant management
mfbertozzi   2/7/2013 3:07:18 AM
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@_hm: maybe they are in the negative slot of the trend that usually describes the evolution of a given company; but it happened several times also for big players, it comes an unpredictable recovery for reaching again the passed outstanding.

FLYINGSCOT
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The secret of success
FLYINGSCOT   2/5/2013 8:12:28 PM
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I will tell you how to succeed in business........

Philips is known for well engineered high quality products.  Case in point I bought an electric kettle from them 20 years ago and it is still going strong and you know how we Brits like to drink hot tea.  Nobody covets that kettle but instead see it as a dependable member of the family dutifully going about its business everyday without a fuss.

Apple on the other hand make products that my children covet and incredibly manage to last about 4 days longer than the one year warranty Apple offers. When the phone or tablet inevitably breaks, which they always do, I am badgered to go out and buy new ones for the kids.  

So from one company I buy one thing every 20+ years for $30 and the other company I am forced by the ones I love to buy several products costing $400 each almost every year.

You can do the maths.

elctrnx_lyf
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Supply Network Guru
Right Thing
elctrnx_lyf   2/5/2013 7:00:57 AM
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May be philips has done a right thing by making a decision to come out of the consumer electronics products. They have better products in Healthcare which could play vital role in the success of the company. It is better to concentrate important business segmens. Just like play the game you can win.

prabhakar_deosthali
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Re:
prabhakar_deosthali   2/5/2013 12:14:05 AM
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Here in India , Philips wound up its Consumer electronics business much earlier and now it has also announce that it is exiting the Home appliance business.

Philips which was house hold name in India for decades has now been almost forgotten except for their lighting products.

It is really sad to see such reputed brands vanishing after giving reliable products to the consumers for many generations

_hm
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Supply Network Guru
Dormant management
_hm   2/4/2013 7:09:11 PM
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Philips had dormant and old management. It needed much more of youger blood in its management to prolong its life. It is not late them to get them in other Philips products.

Cryptoman
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Timing is everything
Cryptoman   2/4/2013 5:54:23 PM
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I was very surprised to hear Philips has left the consumer electronics. It's almost unreal. They were really good at what they were doing. Sometimes being good means little if a company cannot keep up with the competition. The important thing is to be able to make the tough decisions in a timely fashion like Philips has done. There is no point in throwing money into a bottomless pit until the point of no return. Time will tell whether this decision will pay off for Philips.



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