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Philips Shuts Pronto Unit

11/01/2010 11:19:34 AM Eastern

Leuven, Belgium - Philips has pulled the plug on its Pronto
remote control line.

The company issued a statement to the European press over
the weekend that read in part: "In December 2009, Philips announced the
intention to relocate some of its existing remote control activities in Leuven,
Belgium to Asia. At the same time, the intention was communicated to
investigate alternative strategic options for the Pronto business, as this
activity no longer fits with the Philips strategy. Following thorough research,
no suitable partner was found for the acquisition of these activities. As such,
Philips confirms today that it will discontinue the Pronto product line and
related activities."

Philips said it plans to offer support to users of the
existing line. The company also said it "will engage in a dialogue with its
social partners on the consequences for the involved personnel of this
announcement."

The announcement came less than two months after Philips
launched its latest Pronto product, the
TSW9500 in-wall touchscreen
, at CEDIA Expo in Atlanta, as well launching a new, more robust website
for the line.

Philips executives did not respond to a request for comment.

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