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Philco sold its TV first set, which had about a seven-inch screen, for $349.50, in 1948. The next year, it sold 800,000 sets. By then, it had begun selling refrigerators and air conditioners. In 1954, it bought the Bendix and Crosley companies to boost its refrigerator business and get into washers and dryers. But by 1960, Philco's earnings had fallen to $2.3 million from $335 million 10 years earlier. In December 1961, the Ford Motor Co. bought Philco, eventually turning it into a wholly owned subsidiary known as the Philco Ford Corp.
by http://www.bizjournals.com/philadelphia/stories/2000/01/10/story1.html
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