No more Philips TVs for North America

It was one of the oldest and largest manufacturers of televisions for so many years, but in a world of crashing LCD prices and cross-sourcing, it seems that Philips can no longer compete in the largest territory and is handing over its North American business interests, lock stock and barrel, to Funai. The Japanese corporation will still continue to use the Philips and Magnavox branding of course, but behind the badge, Funai will handle all of the sourcing and selling.

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