Digitimes reports that Philips is likely to completely get out of the PDP TV market in 2009.

Funai, who operates the Philips TV brand, says that the company and Philips have no plans to develop new PDP TVs from the end of 2008, indicating that Philips will officially quit Plasma TV operations in 2009.
Philips is still expected to ship 500,000 Plasma TV sets this year.
More details on Digitimes.

Funai just recently signed the licensing deal with Philips. Under the deal, set to take effect Sept. 1st, Funai will pay licensing fees to Philips in exchange for the exclusive right to use the Dutch firm's Philips and Magnavox brand names. The deal can be renewed every five years. Via JCN.