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Article: CEC to take over Philips' mobile phone business

Article from:
Xinhua News Agency
Article date:
February 13, 2007
Copyright

CEC to take over Philips' mobile phone business

BEIJING, Feb. 13 (Xinhua) -- China Electronics Corporation (CEC), one of the state-owned conglomerates, has signed an agreement with Royal Philips Electronic (Philips) to take over Philips's mobile phone business.

CEC will receive an exclusive license to market and sell mobile phones under the Philips brand in the coming five years. Certain mobile phone-related patents will be transferred and licensed to CEC.

The "Xenium" brand, which is concerned with long-battery life, will be transferred to CEC according to the agreement.

In addition, Philips will transfer to CEC its existing international marketing network for the mobile phone business, ...

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