Philips throws in the towel on the US home theater market

Wednesday, November 19th, 2008

Matt is currently working as a writer for TechCrunch. Matt Burns is a family man first and attempts to be a writer second. Born and raised in the heart of the automotive world, only cars eclipse his love of gadgets. He previously wrote for Engadget and EngadgetHD before moving into the party house that is TechCrunch. He learned the retail... → Learn More

Philips is ready to turn the the nuke codes over to Funai as the company tries to reorganize in this pirate-infested world. Earlier in the year, the company turned over the rights to televisions and now is doing the same with DVD, Blu-ray, and home theater products. From here on out, the Philips name will still be present but Funai will be the brains behind the operation with the rights to develop, manufacture, and market the brand here in the States. As the prices of these products fall, so follows the profit margin which is presisly why Philips is leaving the ring.

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