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In 1998, Lucent and Philips announced it would dissolve its joint venture, after garnering only a 2% market share in mobile phones and losing $500 million on a revenue of $2.5 billion. [1] Both companies initially re-absorbed their respective assets in the joint venture, but Lucent subsequently sold off its parts to VTech and Motorola.
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In 2008, Philips transferred its American television business to Japanese company Funai, allowing them to sell and distribute TVs under the Philips and Magnavox brands for the American market. [5] In 2010, their Indian television business was transferred to Videocon , who now make Philips TVs for the Indian market under license. [ 3 ]
Philips Norelco is the American brand name for electric shavers and other personal care products made by the Consumer Lifestyle division of Philips. [ 1 ] [ 2 ] For personal care products marketed outside the United States, Palau, Micronesia, and the Marshall Islands, Philips used the Philishave trademark until 2006.