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Koninklijke Philips N.V.
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Publicatie datum
12 okt 2006 - 09:03
Statutaire naam
Koninklijke Philips N.V.
Titel
Philips to transfer remaining mobile phone activities to CEC
Bericht
October 12, 2006
PHILIPS TO TRANSFER REMAINING MOBILE PHONE ACTIVITIES TO CEC
Amsterdam, the Netherlands and Beijing, the People's Republic of China – Royal Philips Electronics (NYSE:PHG, AEX:PHI) has signed a letter of intent to transfer its remaining Mobile Phone activities to China Electronics Corporation (CEC). CEC will take over the responsibility for Philips' Mobile Phones business, which currently has an annual turnover of approximately EUR 400 million and approximately 240 employees, mainly in Asia Pacific and Eastern Europe.
Under the terms of the letter of intent, CEC will receive a global license to market and sell mobile phones under the Philips brand for the coming five years.
The transaction is still subject to confirmatory due diligence. The transaction will be conditional on all required shareholder, government and regulatory approvals and consents and is expected to be completed by the end of 2006.
For further information, please contact:
Sharon Tang
Philips Corporate Communications
Philips Electronics China Group
Tel: +86 21 2205 5636
Email: Sharon.Tang@philips.com
Nanda Huizing
Philips Corporate Communications
Philips Consumer Electronics
Tel: + 31 20 59 77915
Email: Nanda.Huizing@philips.com
China Electronics Corporation (CEC)
Name Ji-min Zhong
Title: Head of Executive Office
Tel: +86 10 68289195
Email: zhongjm@cec.com.cn
About Royal Philips Electronics
Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is a global leader in healthcare, lifestyle and technology, delivering products, services and solutions through the brand promise of "sense and simplicity". Headquartered in the Netherlands, Philips employs approximately 125,500 employees in more than 60 countries worldwide. With sales of EUR 30.4 billion in 2005, the company is a market leader in medical diagnostic imaging and patient monitoring systems, energy efficient lighting solutions, personal care and home appliances, as well as consumer electronics. News from
Datum laatste update: 07 oktober 2024