Philips NV has signed a deal to sell its PolyLED unit to OTB Display, a company specialising in developing and building manufacturing lines.
Philips New Displays CEO Harrie Brunklaus said in a statement that PolyLED "did not become as viable as we expected within an acceptable period of time."
A Philips spokeswoman commented to AFX News that it was better to sell PolyLED "at this time," adding that the technology provided by PolyLED "no longer fitted into our displays strategy." She also said that the sale does not mean a shift in Philips' strategy.
Posted: Aug 18,2005 by Ron Mertens
