Philips Electronics 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--Philips Consumer Communications--which was established in October 1997. Philips will take a fourth-quarter restructuring charge for its share of the venture.
Short Take: Philips, Lucent end cellular marriage
Philips Electronics 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--Philips Consumer Communications--which was established in October 1997. Philips will take a fourth-quarter restructuring charge for its share of the venture.