In addition, the refrigerator manufacturing industry has been occupied by many competitors from internationally renowned brands and local manufacturers, and its market share has been gradually weakened, and the competition has become increasingly fierce. Therefore, if Philips enters the refrigerator manufacturing industry, it needs to face fierce competition and establish brand awareness and market share in the market. This is a very risky decision for a company that already has its own market share.
In addition, Philips' core business at this stage is medical equipment and other fields. These products have higher value and profit rate, which is more conducive to the sustainable development of the company. If the company focuses on the research and development and production of core products such as medical devices, it can guarantee the company's market position and long-term development. Therefore, it is natural for the company not to enter the refrigerator manufacturing industry.
To sum up, although the refrigerator manufacturing industry occupies a certain market share, it is risky for Philips to enter the refrigerator manufacturing industry. It is suggested that the company put more energy into the research and development and production of core products to maintain its market position and long-term development.