Skip to main content
Advertising

Originally published Tuesday, January 29, 2013 at 3:58 PM

  • Share:
           
  • Comments (0)
  • Print

News Summary: Philips to sell division, loss grows

POWER SWITCH: Electronics maker Royal Philips Electronics NV is selling the division that contains many of its well-known consumer products, such as audio and video equipment, to Japan's Funai Electric Co. for about $202 million, plus licensing fees.

The Associated Press

Most Popular Comments
Hide / Show comments
No comments have been posted to this article.
Start the conversation >

advertising

POWER SWITCH: Electronics maker Royal Philips Electronics NV is selling the division that contains many of its well-known consumer products, such as audio and video equipment, to Japan's Funai Electric Co. for about $202 million, plus licensing fees.

SEEING THE LIGHT: Philips still makes household products like coffee machines and electric toothbrushes, but it is gradually shifting away from consumer electronics manufacturing. Its cutting-edge technologies are mostly concentrated in lighting and health care equipment.

BIGGER LOSS: A big fine from European regulators dragged on its fourth-quarter results, and Philips' loss widened from the year before.

News where, when and how you want it

Email Icon


Advertising