But a decision on Electrolux is yet to be reached,” an executive said. “The business is generating revenue of Rs 18-20 crore per month, whereas it should be doing Rs 80 crore to Rs 100 crore per month to survive. This has made the operation unviable,” the executive said.The Videocon Group operates the Philips and Electrolux business through PE Electronics. A Philips spokesperson from Amsterdam said the company has brand licence agreements for TVs with various partners globally, including Funai, TP Vision and PE Electronics. “PE Electronics did not give up the rights of the Philips-branded TV business in India.
Source: Economic Times March 13, 2018 01:52 UTC