Philips pulls out of car satnav market

Philips has decided not to enter the car navigation system market, consumer electronics chairman Rudy Provoost told analysts on Tuesday.

The company announced in June it was to launch a number of satnav sysems in the Benelux, France and Germany.
‘The market for navigation systems has become very busy over the past few months… we have looked at our product portfolio and decided to focus our attention elsewhere,’ Provoost said.

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