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Philips, China Electronics sign handset deal
Posted: 22-Oct-2001 [Source: Reuters via Yahoo]

[Agreement signed transferring Philips mobile handset activities to CDC.]

Amsterdam -- "Philips Electronics NV on Monday signed a definitive agreement with China Electronics Corporation (CEC) on transferring its mobile handset activities to the Chinese group, the Dutch company said.

"Under the accord, originally announced on July 26, part of the research and development and manufacturing activities of the Philips Consumer Communications (PCC) unit will be brought into a partnership with CEC.

"No financial details of the deal were disclosed.

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