Philips bullish on Bluetooth
Sees market of 1 billion products in 5 years
By Gareth Vaughan, FTMarketWatch
Last Update: 9:24 AM ET Mar 21, 2001
HANOVER (FTMW) - Just a day after issuing a profit warning Europe's biggest consumer electronics group Philips (PHI) (PHG) , was getting bullish on Bluetooth technology at the CeBIT information technology and telecoms trade fair in Hanover.
Bluetooth technology allows connections between the likes of mobile phones, headsets, computers, personal digital assistants (PDAs) and data networks without any wire or cable attachments.
Harry Strasser, chief officer of strategy and business development at Philips consumer communications, said he expects an early mass-market for Bluetooth products, such as cell-phones, laptop computer connections and hi-fi speakers enabling wireless streaming of hi-fi audio, next year.
Strasser added that he expects this to lead to a market of one billion products enabled by Bluetooth within five years.
"Bluetooth is key to Philips' high growth technology strategy," he said, adding that Philips would launch Bluetooth phones, headsets, PDA and laptop products in 2001.
However, Strasser did admit that "initial hype" of Bluetooth products last year saying they would become widely available during 2001, had led to some disappointment in the market.
On Tuesday Philips warned that profits from its semiconductor division would fall 10 percent in the first quarter and that its consumer electronics unit would post a loss. See related story. |
