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    Philips sells home entertainment business

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    euronews (in English)

    by euronews (in English)

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    Philips Chief Executive Frans van Houten is continuing his efforts to focus on its more profitable home appliances and healthcare operations.

    As consumers increasingly get music, films and games online rather than buying CDs and DVDs, he is selling Philips audio and video business to Japan's Funai for 150 million euros.

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    http://www.euronews.net/