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Philips dumps plan to enter navigation device market

Posted: 07 Dec 2006 ?? ?Print Version ?Bookmark and Share

Keywords:Philips Electronics? personal navigation system?

Philips Electronics is mothballing plans to manufacture mobile personal navigation systems, according to a Reuters report.

Rudy Provoost, CEO of the company's consumer electronics unit, said that the company would not enter the market, citing existing competition and the low profitability of releasing a new product in the already saturated market.

In June, Philips disclosed its plan to produce navigation devices, including the delivery of a 160g, 2cm navigation product to market shelves as early as September.

Meanwhile, Philips recently unveiled its plans to pour about $130 million on its brand in 2007, with plans to focus on improving and strengthening presence in the personal appliance and personal care electronics segment.

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