Philips handing over North American TV operations to Funai

We've had a feeling Philips wasn't really in love with the TV market lately, and now word comes from the New York Times that it will no longer manufacture displays for North America. The name -- and apparently the high concept Ambilight designs -- will still be on shelves, courtesy of a five year deal branding Funai-built televisions (already the name behind Emerson, Sylania, Symphonic and others.) Seeking -- like every other manufacturer lately -- to reduce risk and focus on its patents Philips will still design and manufacture TVs outside N.A., as well as oversee U.S. marketing, while Funai takes over all other operations Stateside beginning September 1.

Update: Philips let us know Ambilight remains dead and buried, but its 2008 models will continue as planned.