Koninklijke Philips N.V.
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Publicatie datum
12 feb 2007 - 09:05
Statutaire naam
Koninklijke Philips N.V.
Titel
Philips and CEC sign definitive agreement to transfer remaining Philips Mobile Phone activities to CEC
Bericht
February 12, 2007
PHILIPS AND CEC SIGN DEFINITIVE AGREEMENT TO TRANSFER REMAINING PHILIPS MOBILE PHONE ACTIVITIES TO CEC
Amsterdam, the Netherlands and Beijing, the People's Republic of China – Royal Philips Electronics (NYSE:PHG, AEX:PHI) and China Electronics Corporation (CEC) today 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 EUR 320 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 Co. Ltd.
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.
For further information, please contact:
Joe Chen
Philips Corporate Communications
Philips Electronics China Group
Tel: + 8621 6354 1088 ext.5226
Email: Joe.Q.Chen@philips.com
Nanda Huizing
Philips Corporate Communications
Philips Consumer Electronics
Tel: + 31 20 59 77915
Email: Nanda.Huizing@philips.com
ZHU LEI
China Electronics Corporation (CEC)
Dept. of Cooperation
Tel: +86 10 68207015
Email: press-relation@cec.com.cn
About Royal Philips Electronics
Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is a global leader in healthcare, lifestyle and technology, delivering products, services and solutions through the brand promise of "sense and simplicity"
Datum laatste update: 26 december 2025