PHILIPS SELLS HI-FI AND DVD UNIT FOR $ 201 MILLION
In addition to the already concluded in 2008, deals with the Japanese company Funai, Philips sold its wholly Lifestyle Entertainment, namely: video players, Hi-Fi speakers Fidelio and accessories.
Philips Lifestyle Entertainment, based in Hong Kong and employs 2,000 workers, will cost Funai Electric Co., Ltd in? 150 million (~ $ 201 million). The deal on the audio unit should be completed in the second half of this year, and the transition to a video unit is scheduled in 2017.
The plans will now stand Philips focus on more profitable divisions engaged in health technologies and lighting fixtures.
