Monday, September 26, 2016
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Snapchat Introduces 'Spectacles' Camera-equipped Glasses, Changes Company name To Snap
Nvidia GPUs Could Return To Apple Macs
Lenovo Brings Fingerprint Authenticated Payments To Laptops
Report Cites Google, Salesforce Interest For Twitter
Dalian Wanda and Sony Enters Team Up in China Movie Business
Apple Develops Amazon Echo-Style Device
ALD Technology Chosen By Samsung, LG For Flexible OLEDs
TSMC To Use Different Processes And 3D Packages Across Future Design Platforms
Active Discussions
Which of these DVD media are the best, most durable?
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
Help make DVDInfoPro better with dvdinfomantis!!!
menu making
Optiarc AD-7260S review
cdrw trouble
 Home > News > Consumer Electronics > Philips...
Last 7 Days News : SU MO TU WE TH FR SA All News

Monday, January 20, 2014
Philips to transfer Remaining Stake in TV Joint Venture to TPV


Philips has signed a term sheet to transfer its remaining 30% stake in TP Vision, the television joint venture with TPV Technology, to a fully-owned subsidiary of TPV.

The signing of definitive agreements is expected to take place in the first quarter of 2014, with completion expected in the second half of 2014, subject to certain regulatory and TPV shareholder approvals. After completion, TPV will fully own TP Vision, which will enable further integration with TPV?s TV business.

"With this agreement, we are creating the right set-up for the business to be successful in the extremely dynamic and competitive TV market," said Philips Chief Executive Officer Frans van Houten. "By giving TPV full control, they can drive synergies and act in a faster and more flexible way to changes in the market. Together with TPV, we remain committed to making the TV business a success, with a range of innovative Philips-branded TVs."

In 2011, Philips had transfered the 70% of its Television business into a joint venture with TPV Technology Limited. The brand license agreement the two companies had signed back then will remain in place, with an annual royalty of 2.2% of sales payable by TP Vision to Philips. The minimum annual royalty has been reduced from EUR 50 million to EUR 40 million. The agreement includes a EUR 50 million transaction-related payment, the effect of which Philips will account for in the fourth quarter of 2013.




Previous
Next
Rovi Renews Patent Licensing Agreement with Sony        All News        Dell, Lenovo Eye IBM's Low-end Server Business: reports
Rovi Renews Patent Licensing Agreement with Sony     Consumer Electronics News      NHK Reports Successful Long-Distance Transimssion Of 8K TV Signal

Get RSS feed Easy Print E-Mail this Message

Related News
Philips Is The Top Patent Applicant At the European Patent Office
Siri Meets Philips Hue
Philips Hue Lightstrip Plus Will Paint A Whole Room
IFA: Philips Brings Quantum Dot Monitors to Europe
Philips 27 Full HD Quantum Dot Monitor monitor Promises Perfect RGB Coverage
Philips Hue Go Lets You Take The Light With You
Philips Fidelio NC1L Headphones Go battery-free When Connected to Your iOS Device
TP Vision To Integrate Android into Philips TVs
Philips and Nintendo Resolve Patent Disputes
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

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2016 - All rights reserved -
Privacy policy - Contact Us .