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January 29, 2013
06:14 EDTPHGPhilips to transfer Lifestyle Entertainment business to Funai Electric
Philips has signed an agreement regarding the transfer of its Lifestyle Entertainment business -- Audio, Video, Multimedia and Accessories -- to Funai Electric. Under the terms, Funai will pay a cash consideration of EUR150M and a brand license fee, relating to a license agreement for an initial period of five and a half years, with an optional renewal of five years. The deal is expected to close in 2H13. The Video business will transfer in 2017, related to existing intellectual property licensing arrangements.
News For PHG From The Last 14 Days
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September 23, 2014
05:36 EDTPHGPhilips targets 2016 comparable sales growth 4%-6%
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05:36 EDTPHGPhilips sees second half adjusted EBITA slightly below last year
Philips said the continued support from cost savings programs and Philips Excellence, a less negative impact from currency headwinds compared to the first half of 2014, and the gradual improvement in performance in Professional Lighting Solutions North America and Consumer Luminaires Europe are positively impacting the second half of 2014. Factors that are negatively impacting the second half of 2014 are additional costs related to the Cleveland facility with an EBITA impact of around EUR 100M, provision related to certain legal proceedings, and softness in multiple markets. As a result, Philips’ adjusted EBITA in the second half of 2014 is expected to be slightly below the adjusted EBITA in the same period last year. In addition, the Healthcare reported EBITA in the second half of 2014 is now expected to be lower than the reported EBITA in the second half of 2013.
05:35 EDTPHGPhilips to separate Lighting, HealthTech into two companies
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September 17, 2014
06:21 EDTPHGLCD TV shipments expected to grow 3%-5% through 2017, DigiTimes reports
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