Philips sells remaining HT business lines to Funai (1 Viewer)

Philips is getting completely out of the HT business, selling its speaker, DVD, and other remaining brands to Funai. Funai will sell Philips-branded gear for several years under the terms of the deal. http://news.cnet.com/8301-1023_3-57566380-93/philips-sells-consumer-business-to-funai-for-$202-million/ This story includes the press release: http://www.engadget.com/2013/01/29/philips-sells-entertainment-division-to-funai/ Philips had previously sold its television line to Funai back in 2008 http://www.funai.us/topics/2008/080409.html

I haven't read all the specifics yet, but I understand the sold all the "media business". I wonder what it is they will keep doing. (They originally started as a light-bulb factory, back in the 20s of the previous age. Anton Philips.) Cees

As profits continue to drop in CE, expect more companies to "fold" and sell off to ODM. That is what Funai is, an ODM. "Who else" is Funai? They make all the RCA, Terk and Directv. As Directv owns Funai. Ergo, RCA is a brand of Directv.