Arab Today, arab today phillips back in profit despite cathode ray tube scandal
Last Updated : GMT 09:09:51
Arab Today, arab today
Arab Today, arab today

Electronics giant sells entertainment wing

Phillips back in profit despite cathode ray tube scandal

Arab Today, arab today

Arab Today, arab today Phillips back in profit despite cathode ray tube scandal

Phillips wants to focus on health products this year
The Hague - Arabstoday

Phillips wants to focus on health products this year Electronics giant Philips reported 2012 net profits of 231 million euros (311 million dollars), after losses of 1.29 billion euros in 2011, and announced the sale of its entertainment business to focus further on health products .
Company profits were nevertheless hit by a loss of 355 million euros in the fourth quarter because of a one-off 509-million euro European Commission fine for cathode ray price fixing, Philips said in a statement.
Under the entertainment deal, Philips long-term partner Funai will pay 150 million euros plus an unspecified licence fee to use the Philips brand in audio, multimedia and accessories for an initial period of five and a half years, with an option to renew for five years.
That deal will be closed by the end of 2013, while the video business will be transferred in 2017 because of Philips' existing licence arrangements.
"With this transaction we are taking another step in reshaping the consumer lifestyle portfolio and transforming Philips into the leading technology company in health and well-being," Philips chief executive officer Frans van Houten said in a statement.
"I am confident that today’s agreement with Funai, our partner for over 25 years, will create a promising future for Philips audio, video and entertainment, and continuity for our customers.
Funai CEO Tomonori Hayashi said: "This is truly an exciting time for us at Funai."
"We will benefit from Philips’ legendary know-how and innovation, as well as the excellent talent they have in place around the world," Hayashi was quoted as saying.
"Additionally, this will give Funai the opportunity to meet our goal of expanding our business into markets including Brazil, Russia, India and China."
The company, which employs around 122,000 people globally, has been historically known for its televisions, small appliances and light bulbs, but has sought over the last decade to develop activities in the medical equipment and lifestyle sector.
In April last year the company sold its troubled television branch to TPV Technology.

Source: AFPText for story

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today phillips back in profit despite cathode ray tube scandal Arab Today, arab today phillips back in profit despite cathode ray tube scandal

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today phillips back in profit despite cathode ray tube scandal Arab Today, arab today phillips back in profit despite cathode ray tube scandal

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today What's the reason and what you can do

GMT 05:44 2017 Sunday ,22 October

What's the reason and what you can do
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Prayers turn to nightmare

GMT 06:14 2017 Sunday ,22 October

Prayers turn to nightmare
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 10:18 2017 Saturday ,21 October

How to do open-heart surgery

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday