Shenzhen Sangfei Consumer Communications Company, a subsidiary of China Electronic Corporation, has signed a trademark permission and intellectual property right transferring agreement with Philips to operate Philips' global mobile phone service.
In October 2006, CEC announced the acquisition of Philips' mobile phone service. According to their agreement, CEC would obtain the exclusive authorization of Philips brand in the coming five years, which would allow it to sell Philips brand mobile phones in China and other countries.
Apart from winning Philips' brand resources, Shenzhen Sangfei has also received much of the senior management team and marketing channels of the Philips, a valuable asset to complement the company's existing resources.
Apart from Shenzhen Sangfei, CEC also owns another mobile phone company named Amoi.