Lite-on IT to purchase Philips car-use optical disc drive business
Business and Law Brief

Lite-on IT to purchase Philips car-use optical disc drive business

The board of directors of Lite-On IT has approved a decision to purchase the Automotive Playback Modules (APM) business from Royal Philips Electronics and complete the purchase of BenQ's share in Philips BenQ Digital Storage (PBDS), a joint venture between Royal Philips Electronics and BenQ, according to Lite-On IT.

Lite-On IT will spend 43 million euros (about US$56.6 million) to purchase APM.

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