 Philips announced in January 2013 that it agreed to sell its consumer electronics division to Japan-based Funai Electric Co. for Euro 150 million (US$201.8 million).This would leave mainly consumer products for personal care and health in this division of Philips.However, in October 2013, Philips announced that it would not proceed with the sale, instead initiating litigation against Funai, alleging breach of contract by Funai.