If Philips shed its low-margin consumer electronics business, it could become the undisputed globally dominant near-pure play for 21st century illumination.

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Philips and Ericsson, two European consumer-electronics companies, have also announced a decline in sales.

ECONOMIST: Painful side-effects

Investors chose to focus on the outlook given by Philips, which sells medical equipment, consumer electronics and is the world's biggest lighting maker.

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These will appeal to technophobes and will bring consumer-electronics firms, such as Sony and Philips, into competition with the computer industry.

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Unleash superior sound and start the ultimate party with the Philips Mini System Party Machine (FWP3200) announced today at the 2013 Consumer Electronics Show (CES).

ENGADGET: Philips showcases its 2013 Fidelio audio lineup at CES, we go eyes-on