I don't think you could honestly describe this item as a "home theatre speaker system", however, it is a one thousand per cent improvement on modern TV speakers, which are, as we all know, wholly inadequate.
The bar itself will fit nicely on most TV stands, in front of the TV itself, and the sub-woofer will fit below if required. The material seems solid enough, and there is a nice weight to the bar and the sub-woofer. The sound is, on the whole, very impressive, but it's settings are very basic (volume, bass and treble) - and if you're a fan of treble, like me, the highest setting isn't quite enough. The bass is brilliant - and I do mean seriously good for such a small system. The remote is a tiny little thing, but it's adequate.
There's a lot to recommend this system - it's discreet, blends in nicely with any TV with a black border, and for the price (£147.00 from the official Philips shop), it's cracking value for money. It's not the same as an expansive 5.1 kit - but I couldn't find anything this inexpensive for the same specifications.
One word of warning for potential buyers - my system came with a continental style plug - ie - two pin, and I had to purchase a travel adaptor for £5.00. Philips have agreed to reimburse the cost, but double check before you buy to save the hassle of getting a refund.
Overall, very pleased indeed and worth five stars!