International. The reorganization of the Philips company with all its segments, announced in 2012, and which included the departure of more than 6,000 workers in all its offices around the world, continues this year with this week's decision to sell its home entertainment segment.
For this, the company reached an agreement with the Japanese Funai Electric, who will keep its audio and video segments. According to the terms of the contract of sale revealed, the figure reaches 150 million euros. In addition, while the audio business will pass into the hands of the new company in the second half of 2013, the video business will be in 2017.
This sale joins the one announced last year, in which the TV segment was acquired by TPV Hong Kong. These are the measures that the Philips company has taken to get out of the crisis that the turbulent global economic situation led to several technology manufacturers.
Philips executives have revealed that they now want to focus their recovery efforts on the lighting, health and appliance businesses. And the figures have not helped the company in recent years. Only the report of the last fiscal quarter indicated losses of 335 million euros.
