In an effort to focus exclusively on profitable divisions that produce medical equipment and lighting equipment, the Dutch company Philips is gradually getting rid of all other assets.
Thus, it became known about the departure of the Lifestyle Entertainment division, which specializes in the production of Hi-Fi and DVD equipment, as well as various accessories, to the Japanese company Funai Electric Co. Ltd.
The cost of the transaction is already known - it amounted to 150 million euros. With regard to audio products and accessories, it should be completed in the second half of this year. As for video production, everything will drag on until 2017. Funai will also pay for the right to use Philips brand within five years.