Monday, August 31, 2015
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
NVIDIA GRID 2.0 Launches
New LG Luxurious Urbane Smartwatch To Appear at IFA
Alienware Brings Liquid Cooling and Dynamic Overclocking to Holiday Lineup
Razer Launches Wildcat Xbox One Controller And Upgraded Nabu Smartband
Workstation Market Shippments Rebound In Q2
Google Will Help You Find Your Plumber
IFA 2015: What We Know So Far
Acer Liquid Z410 And Liquid Jade Z Phones Released
Active Discussions
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
How to burn a backup copy of The Frozen Throne
Help make DVDInfoPro better with dvdinfomantis!!!
Copied dvd's say blank in computer only
menu making
Optiarc AD-7260S review
 Home > News > Consumer Electronics > Funai S...
Last 7 Days News : SU MO TU WE TH FR SA All News

Friday, December 06, 2013
Funai Sues Philips For Breach of Contract


Philips and Funai will solve their differences in court as the Japanese company filed a counterclaim against its former Dutch partner asking for compensation for damages, following Philips' recent decision to terminate their sale and licensing deal.

Philips had signed an agreement regarding the transfer of its Audio, Video, Multimedia and Accessories business to Funai on January 29, 2013. In October, Philips said that Funai had refused to take the necessary steps to enable completion of the transaction and the transfer of the business, and that arbitration proceedings in the International Court of Arbitration (ICC) would follow.

Funai Electric has now filed a counterclaim against Philips.

The company claims that Philips was unable to timely complete the spin-off of its 'Lifestyle Entertainment Business'. Funai says that the business Philips intended to sell to Funai differed from what Philips explained to Funai, and the profitability of the business had been notably declining. The Japanese company added that itwas continuing with negotiations to complete the transaction based on its "good business relationship of mutual trust" with Philips for over 25 years. However, Funai says Philips "suddenly and unilaterally" broke off negotiations and filed a petition for arbitration with the International Court of Arbitration.




Previous
Next
Intel to Release 15-core Ivytown Processor        All News        Google KitKat 4.1.1 Update For Nexus 5 Fixes Camera Issues
EU Raids Samung, Philips In Antitrust Probe     Consumer Electronics News      Samsung, LG To Showcase Flexible OLED TVs At CES

Get RSS feed Easy Print E-Mail this Message

Related News
Philips 27 Full HD Quantum Dot Monitor monitor Promises Perfect RGB Coverage
Philips Hue Go Lets You Take The Light With You
Philips Fidelio NC1L Headphones Go battery-free When Connected to Your iOS Device
TP Vision To Integrate Android into Philips TVs
Philips and Nintendo Resolve Patent Disputes
Philips 272G5DYEB 27-Inch G-SYNC Monitor launching Soon
Philips to Appeal $467 Million Patent Infringement Lawsuit
Philips Expands Its Series Of Ultra HD TVs Powered by Android
New Philips Hue Beyond Combines Functionality And Ambient Lighting for Home
Philips to Create New Lumileds and Automotive Lighting Businesses Company
Philips and Salesforce.com To Deliver Cloud-based Healthcare Information Technology
EU To Fine Philips, Infineon And Samsung

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2015 - All rights reserved -
Privacy policy - Contact Us .