Philips To Transfer Remaining Philips Mobile Phone Activities To CEC

February 13, 2007 | Print | Email Email | Comments | Category: Gadgets & Electronics



    Royal Philips Electronics (PHG) and China Electronics Corporation have signed a definitive agreement to transfer Philips' remaining Mobile Phone activities to CEC.

    CEC will take over the responsibility for Philips' Mobile Phones business, which had 2006 sales of approximately EU320 million and has approximately 240 employees, mainly in Asia Pacific and Eastern Europe.

    The "Xenium" brand, which is associated with long-battery life, will be transferred to CEC under the terms of the agreement. CEC will receive an exclusive license to market and sell mobile phones under the Philips brand for the coming five years. Certain mobile phone-related patents will be transferred and licensed to CEC.

    In addition, Philips will transfer to CEC its existing marketing network in some key countries for the mobile phone business, as well as its 25% equity stake in Shenzhen Sangfei Consumer Communications Coompany.

    This transaction is conditional on all required shareholder, government and regulatory approvals and consents and is expected to be closed by the end of the first quarter 2007.

    Related Links:


    Recommend this page: 1 Star2 Stars3 Stars4 Stars5 Stars

    Loading ... Loading ...
    Related News:
  • CEC Obtains Philip Mobile Phone's Trademark Authorization
  • Philips To Abide By Chinese Labor Laws
  • CEC Takes Over Philips' Mobile Phone Business
  • Shenzhen Sangfei To Take Over Philips Mobile Phone Service
  • TCL Will Transfer 5% To Philips
  • PSi Technologies Signs Supply Agreement With Philips
  • Philips China Reshuffles Business
  • Philips Plans Further Expansion In China Market
  • Chinese Employees Angry About Lack Of Benefits From Philips
  • Philips Turns To China's Autosector



    • Leave A Comment:



    Inside ChinaTechNews.com


      Other China News

      China Sourcing News:

      Home Building Chain Closes Another Store In China

      American Internet Retailer Adds Courier Fees In China

      French Optics Company Announces Two China Investment Deals

      Increasing Manufacturing Costs Cause Trouble For Chinese Retailer
      TechSecurityChina.com:

      Inspur International To Sell Chinese E-government Business

      Shareholder Disputes Settled For Chinese Media Firm

      Qihoo 360′s Safebox Software Will Integrate With Uuu9.com

      Apple Suspends iPhone 4S Sales In Retail Stores In China
      ChinaWirelessNews.com:

      ZTE Launches First Tablet In America

      Apple Adopts New iPhone Sales System In Hong Kong

      China Telecom To Launch CDMA-based iPhone 4S

      China Mobile's Call Center In Luoyang Formally Launched

      Visit these other China sites: ChinaRetailNews.com | GreenChinaTech.com | ChinaWirelessNews.com | TechSecurityChina.com | China Sourcing News | China CSR