{{short description|Dutch consumer electronics company}} {{Infobox company | name = Versuni | logo = Versuni logo.png | logo_size = | former_name = Philips Consumer Lifestyle | type = Private | foundation = 2021 (as Versuni) | location = Amsterdam, Netherlands | key_people = Véronique Pauwels (President, CEO) | products = Consumer electronics, small appliances | homepage = {{url|https://www.versuni.com}} | industry = Electronics | owner = Hillhouse Investment | brands = Philips (under license from Philips), Gaggia, Saeco (under license from Evoca), Senseo, L'Or, Preethi | revenue = {{profit}} €2.2 billion (2021) | net_income = }}

'''Versuni''' (formerly Philips Consumer Lifestyle) is a privately owned Dutch company, headquartered in Amsterdam, which produces consumer electronics and small appliances. Formerly a subsidiary of Dutch electronics conglomerate Philips, it was sold to Chinese private equity firm Hillhouse Investment in 2021.<ref name=":0">{{Cite news |last=Meijer |first=Bart H. |date=25 Mar 2021 |title=Philips sells appliances arm to China's Hillhouse for 3.7 bln euros |url=https://www.reuters.com/world/china/chinas-hillhouse-capital-buy-philips-appliances-arm-37-bln-euros-2021-03-25/ |access-date=14 Oct 2024 |work=Reuters}}</ref> Versuni sells their products under the Philips brand name (under license), as well as under the brands Preethi, Gaggia and Saeco (under license from Italian coffee-maker manufacturer Evoca Group), Senseo and L'Or and Baristina.

==History== thumb|upright|right|Philips radio receiver, Model 930A (1931) While Philips' first product was manufactured in 1891, the first product that would fit in the Consumer Electronics division was a television, experimentally manufactured in 1925. In 1927, Philips began producing radios. Only five years later, Philips had sold one million of them. One other major product release came in 1963, when the Compact Cassette was introduced.{{Citation needed|date=January 2024}}

After Philips Consumer Electronics acquired companies as Magnavox and Sylvania in the late-1970s, Philips managed to sell their 100-millionth TV-set in 1984.

Throughout the 1990s, increasing competition from East Asian manufacturers (initially Japanese, then Korean and Chinese) led to a general erosion in market share, particularly in developing markets such as India.<ref name=":1">{{Cite web |last=Pooler |first=Michael |date=13 Sep 2020 |title=Transforming an electronics group |url=https://www.ft.com/content/5c49f71b-328c-492c-b660-601a516482a5 |access-date=14 Oct 2024 |website=Financial Times}}</ref><ref name=":2">{{Cite news |last=Mitra |first=Sounak |date=11 Dec 2014 |title=40 years ago...And now: Putting the lighting effects back on Philips |url=https://www.business-standard.com/article/management/40-years-ago-and-now-putting-the-lighting-effects-back-on-philips-114121101295_1.html |work=Business Standard}}</ref><ref>{{Cite news |last=Kaushik |first=Manu |date=30 Sep 2012 |title=Case study: Will Philips' attempt at repositioning its products work? |url=https://www.businesstoday.in/magazine/case-study/story/philips-case-study-32695-2012-09-18 |work=Business Today}}</ref> As a result, consumer electronics became an increasingly smaller part of their business, leading to a variety of divestments.<ref name=":1" />

In 2008, Philips transferred its American television business to Japanese company Funai, allowing them to sell and distribute TVs under the Philips and Magnavox brands for the American market.<ref>{{Cite web |last=EETimes |date=2008-04-08 |title=Philips offloads US TV operation to Funai |url=https://www.eetimes.com/philips-offloads-us-tv-operation-to-funai/ |access-date=2024-10-14 |website=EE Times}}</ref> In 2010, their Indian television business was transferred to Videocon, who now make Philips TVs for the Indian market under license.<ref name=":2" /> That same year, their mainland Chinese television business was transferred to Chinese state-controlled company TPV Technology.<ref>{{Cite news |date=19 Aug 2010 |title=Philips plans China TV license deal with TPV |url=https://www.reuters.com/article/business/philips-plans-china-tv-license-deal-with-tpv-idUSLDE67I0OK/ |work=Reuters}}</ref>

In 2012, Philips spun-off its loss-making TV business globally to TP Vision, a joint-venture with Chinese state-controlled company TPV Technology (who had previously held the license to sell Philips TVs in the mainland Chinese market).<ref>{{Cite web |date=2012-04-03 |title=Philips spins off TV unit to HK’s TPV Technology - Taipei Times |url=https://www.taipeitimes.com/News/biz/archives/2012/04/03/2003529353 |access-date=2024-10-14 |website=www.taipeitimes.com}}</ref> This excluded their American, Indian and Chinese television businesses, which had already been transferred to other licensees (as above). Philips initially held a 30% stake in the joint venture, which was sold to TPV Technology in 2014.<ref>{{Cite web |last=Hayman |first=Pete |date=2014-01-21 |title=Philips to sell remaining stake in TV business to TP Vision |url=https://www.whathifi.com/news/philips-to-sell-remaining-stake-tv-business-to-tp-vision |access-date=2024-10-14 |website=whathifi |language=en}}</ref>

Philips announced in January 2013<ref>{{Cite web|url=http://www.newscenter.philips.com/us_en/standard/news/press/2013/20130129-Philips-transfer-AVMA-Funai.wpd#.UQhLt0qOi0c|title=Philips to transfer its Audio, Video, Multimedia and Accessories business to Funai}}{{Dead link|date=December 2025 |bot=InternetArchiveBot }}</ref> that it agreed to sell its consumer electronics division to Japan-based Funai Electric Co. for €150 million (US$201.8 million). This would leave mainly consumer products for personal care and health in this division of Philips.<ref>{{Cite web|url=https://www.zdnet.com/article/philips-transfers-lifestyle-unit-to-funai-electric-for-202m/|title = Philips transfers lifestyle unit to Funai Electric for $202M}}</ref> However, in October 2013, Philips announced that it would not proceed with the sale, instead initiating litigation against Funai, alleging breach of contract by Funai.<ref>{{Cite web|url=http://www.funai.jp/en/news/detail.php?pk=1384745416|title=2014-5-20 &#124; FY2014 &#124; News Center &#124; FUNAI ELECTRIC CO., Ltd|access-date=2014-05-12|archive-date=2014-05-12|archive-url=https://web.archive.org/web/20140512231650/http://www.funai.jp/en/news/detail.php?pk=1384745416|url-status=dead}}</ref>

In 2021, Philips sold their Domestic Appliances business to Hillhouse Investment, a Chinese private-equity firm controlled by entrepreneur Zhang Lei, for €3.7 billion (US$4.37 billion). As part of the deal, the new company received the right to use the Philips brand name for consumer electronics for a period of 15 years following the deal, at an estimated cost of €700 million over that time period.<ref name=":0" /> In 2023, the company was rebranded as Versuni.<ref>{{Cite web |title=Philips Domestic Appliances becomes Versuni |url=https://www.businesswire.com/news/home/20230217005042/en/Philips-Domestic-Appliances-becomes-Versuni |website=BusinessWire}}</ref>

Versuni has begun to target India as a key growth market, with the opening of a factory manufacturing air fryers and garment steamers in Ahmedabad in 2024. It is estimated that this will increase the proportion of products Versuni sells in India that are locally manufactured from 70% to 90%.<ref>{{Cite news |date=2024-01-03 |title=Versuni India, formerly Philips Domestic Appliances, opens manufacturing facility in Gujarat, to 1,000-plus jobs |url=https://timesofindia.indiatimes.com/gadgets-news/versuni-india-formerly-philips-domestic-appliances-opens-manufacturing-facility-in-gujarat-to-1000-plus-jobs/articleshow/106524167.cms |access-date=2024-10-14 |work=The Times of India |issn=0971-8257}}</ref>

In May 2024, Bloomberg reported that Versuni was exploring the possibility of listing their Indian business, which could value it at US$800 million, and that they were in early stages of discussion with investment banks regarding this. <ref>{{Cite news |date=3 May 2024 |title=Hillhouse said to consider India IPO for home appliance maker |url=https://www.moneycontrol.com/news/business/hillhouse-said-to-consider-india-ipo-for-home-appliance-maker-12714097.html |work=MoneyControl}}</ref>

==Products== Versuni primarily sells small appliances under the Philips brand (under license from Philips).<ref>{{Cite web |title=Our products {{!}} Versuni |url=https://www.versuni.com/products/ |access-date=2024-10-14 |website=www.versuni.com |language=en}}</ref> These include:

* Air fryers * Rice cookers * Blenders * Kettles * Clothes irons * Clothes steamer * Vacuum cleaners * Air purifiers

Versuni also sells domestic coffee makers, under the Philips, Gaggia, Saeco, Senseo and L'Or brands.{{Citation needed|date=January 2026}}

They sell a variety of home appliances in India under the Preethi brand, including mixer-grinders.

Philips-branded electric toothbrushes and rotary shavers are not made by Versuni, but continue to be manufactured and sold by Philips itself under its Personal Care division.

==References== {{Reflist}}

==External links== * [https://www.versuni.com/ Official website]

{{Philips}}

Category:Philips spin-offs Category:Dutch companies established in 2008 Category:Companies based in Stamford, Connecticut