Philips exits consumer electronics market Philips shares rose 1.4 per cent to 22.2 euros, trading at the highest level since April 2011. Analysts welcomed the deal as "an important divestment" that could fan hopes of further disposals in the consumer portfolio. Philips, which will also receive licence fees from Funai, reported a fourth-quarter net loss of 355 million euros - widening from a year-ago loss of 160 million euros - as it cited previously flagged provisions and charges. The group had already warned last month that it would take a provision of 509 million euros to cover an European Union fine for cartel practices in its television business, and that restructuring charges would be higher than previously estimated. Philips reported three consecutive quarters of better-than-expected net profit in 2012, after struggling with weak economic growth, fragile consumer spending and government budget cuts in several markets. The fourth-quarter results showed that underlying profit improved significantly following job cuts, disposals and a focus on core businesses. Sales and profits rose at the healthcare division, which sells home oxygen kits, hospital scanners and ultrasound systems, and at the consumer business.