Funai Takes Over Philips Blu-ray, DVD Brand In North America

The struggling home theater brand Philips dropped its plasma line earlier this year and now Japan's Funai Electric is taking over the company's DVD and Blu-ray business in North America--starting next month. Reuters reports that the deal will increase Funai's North American sales to the tune of $322 million, but most of us won't notice the difference--Funai will work under the Philips label. Apparently the takeover will come in the form of royalty payments rather than a lump sum of cash or stock. Bye bye, Philips.

Via Engadget HD

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