After recently binning most of its interest in the TV market, Philips has now sold off its remaining home entertainment teams, leaving the once mighty tech company to focus on mundane kitchen and health products.

In similar fashion to the recent TV business disposal, Philips will continue to receive royalties from buyer Funai Electric Co, alongside at £130m chunk of lovely money to help fund further innovations in the home juicing and man/lady shaving segments. [Telegraph]