Tuesday, October 21, 2014
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Microsoft Is Rolling Out First New Windows 10 Preview Build
Yahoo Reports High Revenue and Profit
New Samsung Galaxy S5 'Plus' Released With Faster Processor
Google, Facebook And Comcast Spend The Most On Lobbying
Google Play Music App To Follow Your Mood
Login To Google Using A USB Security Key
Toshiba Debuts New 2-in-1 Convertible PC with a 360-Degree Design
Acer Leads The Growing Chromebook Market
Active Discussions
Copied dvd's say blank in computer only
How to generate lots of different CDs quickly
Yamaha CRW-F1UX
help questions structure DVDR
Made video, won't play back easily
Questions durability monitor LCD
Questions fungus CD/DVD Media, Some expert engineer in optical media can help me?
CD, DVD and Blu-ray burning for Android in development
 Home > News > Consumer Electronics > Philips...
Last 7 Days News : SU MO TU WE TH FR SA All News

Tuesday, November 01, 2011
Philips To Transfer Its TV Business To TPV


Royal Philips Electronics today announced that it has signed the agreement to transfer its Television business into a joint venture with TPV Technology Limited. The new company will be 70% owned by TPV and 30% by Philips.

Closing of the deal, which is expected at the end of the first quarter of 2012, will take place after necessary merger clearance, governmental and TPV shareholder approvals are obtained.

"I am pleased that we have now signed the Television joint venture agreement with TPV. This agreement is important for both Philips and TPV and provides clarity to our consumers, trade partners and employees," said Philips Chief Executive Officer Frans van Houten. "This joint venture leverages the strengths of both companies to improve the position of Philips Television in the market. It enables Philips to focus on expanding market leadership positions across our Healthcare, Consumer Lifestyle and Lighting sectors."

The joint venture will be responsible for the design, manufacturing, distribution, marketing and sales of Philips' Television worldwide, with the exception of mainland China, India, United States, Canada, Mexico and certain countries in South America. As part of this transaction, the Philips Television innovation and manufacturing sites, commercial organizations, headquarters and employee base of 3,500 will be transferred into the joint venture.

Philips will grant the joint venture the right to use the Philips brand for an initial term of five years with an automatic renewal for another five years, subject to the joint venture meeting certain key performance indicators.


Previous
Next
ASUS Showcases X79 Motherboards        All News        Yahoo to Acquire Ad Firm Interclick
Toshiba-Hitachi-Sony LCD Alliance to Acquire Panasonic LCD Plant     Consumer Electronics News      Fujifilm Releases FinePix REAL 3D V3 Digital Viewer

Get RSS feed Easy Print E-Mail this Message

Related News
Philips 272G5DYEB 27-Inch G-SYNC Monitor launching Soon
Philips to Appeal $467 Million Patent Infringement Lawsuit
Philips Expands Its Series Of Ultra HD TVs Powered by Android
New Philips Hue Beyond Combines Functionality And Ambient Lighting for Home
Philips to Create New Lumileds and Automotive Lighting Businesses Company
Philips and Salesforce.com To Deliver Cloud-based Healthcare Information Technology
EU To Fine Philips, Infineon And Samsung
Philips to Sell WOOX Innovations to Gibson
Philips Announces Its 2014 TV Lineup
MWC: Philips and Ericsson Unite On Smart Street Lighting
Philips Lighting System Guides You Through The Supermarket
Philips to transfer Remaining Stake in TV Joint Venture to TPV

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2014 - All rights reserved -
Privacy policy - Contact Us .