Philips Confirms License Deal For Mexican TV Operations With Funai
08 Juni 2009 - 11:31AM
Dow Jones News
Dutch electronics company Philips NV (PHG) Monday said it has
agreed a license deal with Japan-based peer Funai Electric Co.
(6839.OK) for its television activities in Mexico.
The deal was completed by the end of 2008 and took effect in
March, a Philips spokesman told Dow Jones Newswires.
The agreement allows Funai to produce, distribute and market
Philips-brand TVs in Mexico. The deal follows an earlier agreement
between the two companies on the sale of Philips' TVs in North
America.
In return, Philips will receive royalties for the TVs sold by
Funai.
By Harm Luttikhedde and Maarten van Tartwijk, Dow Jones
Newswires; +31-20-5715200; maarten.vantartwijk@dowjones.com