Sad news, but not surprising. Nothing lasts for ever. Philips have been aiming to move more into health-related items for some years. Their audio/video has been the usual Chinese-built stuff for some time, so in my experience best avoided.
Perspicacious. Physical media is dying rapidly- 5 years from now, CD/DVD and CD/DVD players will be as niche as LPs, maybe even more so. I can't remember the last time I actually took a CD out of a case and played it.
Hi res or uncompressed (in a data sense) downloads will doubtless be available, but I'll bet that 95+% of sales will be MP3 or some other compact format and that not every release will have hi res or uncompressed options.
Always remember that quality audio is a niche, not mainstream, and for the vast majority of people, the differences between compressed and uncompressed formats are negligible and unimportant- but they DO know that they can get thousands of MP3 songs onto their iPads.