In the face of increased competition and rapid downward price trends in the HDTV category, resulting in lower profits, Philips has announced that it will no longer make any televisions for the North American market. Philips will, instead, license its name to Funai for use in North America. Funai currently makes Emerson, Magnavox, Sylvania, and Symphonic branded Televisions, DVD players, DVD recorders, and other electronics products for sale in North America. However, despite the exit, Philips still remains one of the most popular Television brands in the European market. For all the details, check out the Official Funai Announcement.