For playback of DVD you will need to use the composite video + audio input. On some TVs this is shared by the component video input. You have to select composite video in the TV menu.
For getting sound from the TV to the Philips you will need an analog stereo output. If the TV has a headphone jack use that. If it only has optical audio out you will need a DAC like this one.
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/www.parts-express.com/parts-express-dac-digital-to-analog-converter-(51-compatible)--180-999