Philips Electronics is selling its Automotive Playback Modules (APM) manufacturing operation to Lite-On of Taiwan, according to the company.

Philips said the remainder of the APM operations would be transferred to a joint-venture between the two companies that will operate under the name Philips & Lite-On Digital Solutions, or PLDS. The transaction is due to be competed in March 2007, subject to normal regulatory approvals.

APM has been developing and making CD and DVD playback modules to suppliers of automotive entertainment systems. The manufacturing operations due to be sold are mainly located in Györ, Hungary. The activities that will be transferred to PLDS include research and development, marketing and sales and product management activities, which are primarily located in Wetzlar, Germany.

By: DocMemory
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