Philips Electronics India, consumer electronics major has inked pact with Japan's Funai Electric by signing an agreement to sell its audio, video, multimedia and accessories businesses for รข‚¬150 million and a brand license fees. As per the deal, Funai will be expanding its operations in emerging markets, including India.
The company will benefit with the strong presence of Funai, in North and Central America, and Japan to create a promising future for the Dutch firm's audio, video and entertainment businesses.
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