Philips' keynote speech was headed up by Andrea Ragnetti, who represents the new "Consumer Lifestyle" division for the company.
A new direction for Philips, Ragnetti stated that they had previously made "too much of a focus on electronics and not on consumers".
Claiming they wanted to break down barriers and become a more market driven company, Ragnetti said Philips has really spent time recently listening to consumers and finding out what they want.
With "sense and simplicity" at the heart of everything they do, apparently this research led Philps to conclude that today's consumer focuses less on objects and more on lifestyles and experiences.
With this new focus, Philips has announced a new design identity under the umbrella of the "Design Collection", that is described as "minimalist, emotional and recognisable" and "very European".
The flagship products of the new Design Collection is a range of LCD televisions, headed up overall by the 52-inch "Ultimate Dream" LCD TV.
Claiming powerful "industry trumping" invisible speaker sound experience that "wraps the sound around the TV", the specs for the Ultimate Dream are 1080p, 120Mhz and a 2ms fast response time.
Philips also announced a Profile 1.1 Blu-ray player, the BDP7200, but provided no information or further details other than it was coming soon, and that in their official opinion, the "future for the consumer is nothing but blue".
Philips also chose the Consumer Electronics Show in Las Vegas to announce a "special" partnership with RealNetwork's Rhapsody music service.
Claiming that the deal would give Philips' customers access to 4.5 million songs via both the Streamium wireless music stereo centres and GoGear portable MP3 players, the company said it all adds up to more choice for the consumer.