Updated 24 May, 2013, 7:53 pm IST
Philips sells home entertainment business to Funai for $202 million
| by Nikhil Subramaniam |
Philips has sold its audio and video entertainment business to Funai for $202 million (plus licence fees), and has transferred the lucrative product line to the Japanese company, Reuters reported. The deal nearly completes the electronics giant’s exit from the home entertainment business, which leaves it free to focus on the more profitable home appliances and health-care product lines.
Philips moves out of the home entertainment business
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