Short Take: Philips, Lucent end cellular marriage

Philips Electronics said it will end its cellular telecommunications joint venture with Lucent Technologies, Dow Jones Newswires reported. The companies said they agreed in late September to end the venture, dubbed Philips Consumer Communications, which was established in October 1997. Philips said it will take a fourth-quarter restructuring charge for its share of the venture, according to Dow Jones.

Jan. 2, 2002 4:43 p.m. PT

said it will end its cellular telecommunications joint venture with Lucent Technologies, Dow Jones Newswires reported. The companies said they agreed in late September to end the venture, dubbed Philips Consumer Communications, which was established in October 1997. Philips said it will take a fourth-quarter restructuring charge for its share of the venture, according to Dow Jones.