When Philips bought Philco in 1981 , Philips was able to freely use the Philips name for all of their US products .
Philips chose to retain the Norelco name for personal care appliances , and the Magnavox name for economy - priced consumer electronics .
When Philips bought Philco in 1981 , Philips was able to freely use the Philips name for all of their US products , but they chose to retain the Norelco name for personal care appliances , and the Magnavox name for economy - priced consumer electronics .