Thursday July 9, 2020

Philips to sell DVD, music player business

Philips is to sell its DVD and music-player business as a revamp to focus on lighting and health-care products helped profit to beat analysts’ estimates.

29th January, 2013
Frans van Houten

Philips is to sell its DVD and music-player business as a revamp to focus on lighting and health-care products helped profit to beat analysts’ estimates.

Japan’s Funai Electric will pay €150 million and a licence fee for the Lifestyle Entertainment unit, Philips said today.

The electronics company's fourth-quarter earnings before interest, taxes, amortisation and one-time items rose 50 percent to €875 million euros.

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