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Thomson Exits Home Phone Market

11/06/2008 08:51:00 AM Eastern

Indianapolis – Thomson said today that it would exit the residential home phone market in the U.S. effective immediately.

Thomson, which supplies GE-branded phones in the U.S., has suffered declines in its telephony business of 18 percent year-on-year.

According to the company, roughly 140 jobs will be cut worldwide as a result of the move.

According to a statement released by the company, the “decision reflects CEO Frederic Rose’s commitment to exit businesses that are unlikely to contribute to improving Thomson’s profitability in the short to medium term.”