Philips intends to transfer to CEC

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Royal Philips Electronics 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 current has an annual turnover of close to US$504million and around 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 next five years.

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Dubai's smart palm tree technology revealed

Dubai's smart palm tree technology revealed

Smart Palms harness the sun's energy to allow people to look...

Revealed: the best Dubai Twitter accounts to follow

Revealed: the best Dubai Twitter accounts to follow

Live in Dubai and hoping to get in on the Twitter buzz? Here...

How to get the most out of social media, by Obama's 2008 campaign manager

How to get the most out of social media, by Obama's 2008 campaign manager

David Plouffe is credited with Barack Obama’s unlikely 2008 victory...

Most Popular
Most Discussed