Philips sells its audiovisual equipment business to GibsonApril 28, 2014 - 11:47 AMT PanARMENIAN.Net - Dutch technology company Philips says it has struck a deal with music company Gibson Brands of the U.S. to sell its audiovisual equipment business for $135 million, according to the Associated Press. Philips is still locked in arbitration with Japan's Funai after a similar deal to sell the same businesses for $200 million fell apart last year, but said that won't affect the new agreement. The companies said the deal makes sense as Gibson is big in Japan and the U.S., while Philips is strong in Europe, China and Latin America. The audiovisual equipment business employs some 1,900 people and makes home audio systems, headphones, speakers, portable audio and video players, media players, telephones and more. It turned a marginal $4.1 million (3 million euro) profit in 2013, on sales of $1.3 billion. Related links: Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. Aram I supports Karekin II’s “patriotic position” Catholicos of the Great House of Cilicia Aram I has expressed support for the Mother See of Holy Etchmiadzin. |