I saw this in another forum:
It seems audio and video are no longer profitable. Last January Philips announced they will sell their audio/video business to Funai during 2013. Specifically their whole Lifestyle Entertainment production, audio, multimedia and related accessories, will be purchased by their Japanese partner Funai, who already distributes Philips in Japan. The video production will definitely pass to Funai in 2017, because of critical copyright and brand-license issues.
Philips will focus their efforts on Health & Well-being as well as Lighting and Medical Equipment products, while Funai will design and manufacture Philips-branded audio and video products. More precisely, the whole Fidelio range, blu-ray and DVD players, home theater systems and docking stations will be manufactured by this Japanese partner. This transaction will cost about $200 million in cash and brand-license fees.
murali
It seems audio and video are no longer profitable. Last January Philips announced they will sell their audio/video business to Funai during 2013. Specifically their whole Lifestyle Entertainment production, audio, multimedia and related accessories, will be purchased by their Japanese partner Funai, who already distributes Philips in Japan. The video production will definitely pass to Funai in 2017, because of critical copyright and brand-license issues.
Philips will focus their efforts on Health & Well-being as well as Lighting and Medical Equipment products, while Funai will design and manufacture Philips-branded audio and video products. More precisely, the whole Fidelio range, blu-ray and DVD players, home theater systems and docking stations will be manufactured by this Japanese partner. This transaction will cost about $200 million in cash and brand-license fees.
murali
