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Philips may quit market for mobile phone handsets
Posted: 29-Mar-2001 [Source: Financial Times]

[Incoming president warns he was "considering disposal as an option" with units shipped below expectations for the current year.]

by Gordon Cramb, Amsterdam -- "Philips may quit the market for mobile phone handsets, the next president of the Dutch electronics group said on Thursday.

"Gerard Kleisterlee, who takes over on May 1, said that while the group was still interested in finding a joint venture partner for the struggling division, he was considering disposal as an option.

"You have heard it here now," Mr Kleisterlee, said when asked to confirm his willingness to sell the unit.

"Any disposal would overturn one of the most hard-fought ambitions of Cor Boonstra, Philips' outgoing president.

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