It seems Philips has “corrected” the picture settings when the Contrast mode is set to “Energy savings”. The picture in that mode is now much more washed out than before.
Normally that wouldn’t be an issue, because I prefer to use the “Optimized for picture” contrast setting anyway.
However, for SDR material, if you choose “Optimized for picture” and also set the Perfect Natural Reality option to “Minimum” or higher, a strange color shift occurs (reds become darker among other things). This color shift does not happen if you either turn PNR off or set the Contrast mode to “Energy savings”. It also doesn’t happen for HDR or DV material.
But with the new firmware the combination of Contrast mode set to “Energy savings” and PNR set to “Minimum” the picture looks washed out, even at the highest OLED Contrast setting.
So I have downgraded to the .009 firmware.
I’m afraid I will be stuck on this version though, because I can understand why Philips adjusted this (there was hardly any difference between “Energy savings” and “Optimized for picture”, but now there is). I can only hope they will fix the strange color shift issue I described in a future firmware version.