Earlier this year, Funai acquired the rights to sell televisions under the Philips and Magnavox brands in the United States and Canada. According to the Nikkei Business Daily (via Reuters), Funai will also be taking over Philips' North American DVD and Blu-ray operations. Under the deal, Funai will make royalty payments to use the Philips brand, instead of an outright payment for their audiovisual business.
Japan's Funai Electric Co will take over Philips' North American DVD, Blu-ray and other audiovisual operations, on top of the Dutch firm's TV business in the region that Funai had already acquired, the Nikkei business daily said.
The move, which would combine Funai's expertise in low-cost production and Philips' brand name, is expected to boost Funai's North American sales by 30 billion yen ($332 million), the newspaper said.
