Check around a bit more as I have seen LG 4K displays on sale for less than that Philips.
I have this LG Display:
https://www.lg.com/us/monitors/lg-27up600-w-4k-uhd-monitor#
It is pretty basic without any USB hub or a multiway tilting but has the same display panel as the fancier bells and whistle equipped displays.
It pays to shop around a lot to get a good deal on LG, Dell and ASUS displays. While I have seen people here happy with Dell displays, they are a very PC centric company and their support is not really great for people with Macs.
Also, current 2560x1440 offerings from these vendors are very good and cheaper than 4k. They may not be as good as the 5K iMac but are much better than the old Thunderbolt display.