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CAMBRIDGE, Mass. - Royal Philips (NYSE:PHG, AEX: PHIA), the $26.7 billion healthcare technology giant, launched its new Philips Norelco Head Shaver Pro Series on Monday, expanding its electric shaving product line into the head shaving category. According to InvestingPro data, the company’s stock has shown strong momentum with a 9.6% return over the past six months.
The new product features PowerAdapt Sensor technology that adjusts to hair thickness in real time, a 360-degree Flexing Head designed to adapt to scalp contours, and 36 ComfortCut blades for close shaving results.
"Head shaving is a growing choice for people who want a clean, confident look," said Rafael Viestel da Silva, Philips Grooming and Beauty Marketing Director, in a press release statement.
The company cited research indicating that among the more than 70 million men in the U.S. experiencing balding, nearly half shave their heads, creating demand for specialized head shaving tools.
Additional features include up to 90 minutes of cordless operation from a one-hour charge, five-minute quick charge capability, waterproof design for wet or dry use, and a "Hair Collect" system to capture cut hairs.
The Philips Norelco Head Shaver Pro series is available on Philips.com, Amazon.com and Walmart.com with retail prices ranging from $79.99 to $139.99. Replacement heads are priced at $34.99, with the company recommending replacement every six months.
Royal Philips, headquartered in the Netherlands, focuses on health technology and reported sales of €18 billion in 2024 with approximately 69,300 employees worldwide. The company maintains a solid financial position with a healthy current ratio of 1.26 and generates nearly $1 billion in levered free cash flow. InvestingPro analysis reveals 10+ additional exclusive insights about Philips’ financial health and market position, available in the comprehensive Pro Research Report.
In other recent news, Philips is facing legal action in Australia as the Therapeutic Goods Administration (TGA) has initiated proceedings against the company in the Federal Court of Australia. The case involves allegations that Philips supplied medical devices, specifically sleep apnea machines, that did not meet Australian safety and performance standards. Philips has acknowledged that approximately 44,000 units are installed in Australia, and most of these were part of a global recall affecting 5.6 million devices. Despite the legal proceedings, Philips reported no commercial disruption thus far. The company has stated that the timeline for the case is uncertain, but the most severe consequence anticipated is a financial penalty. These developments are part of ongoing scrutiny over Philips’ compliance with safety regulations.
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