Philips and Magnavox brands licensed to Funai
If you were a bit confused as to how Funai planned on boosting its Q4 numbers with sales of Blu-ray players, maybe this will clear things up. Effective January 1, 2009, Philips Consumer Lifestyles will "license its Philips and Magnavox brands to Funai for Blu-ray Disc players, DVD players, DVD recorders and home cinema products in the US." With the onset of the new year, Funai will take responsibility for the "manufacturing, distribution, marketing and sales activities" for all of the above mentioned items, and of course, Philips will receive royalty payments in exchange. The agreement is set to last for three years with a possibility of extension, and once the transformation takes place, Philips Consumer Lifestyles' "On The Go" portable wares will be the only ones it exclusively offers without any assistance from Funai.
