Friday, October 31, 2014
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Sharp To Produce New Backlight-free LCD Panel For Wearables
New Cameras Boost GoPro's Quarterly Profit
Panasonic AX800 4K ULTRA HD TVs Update Adds Compatibility With Netflix 4K Streaming
YouTube Now Supports 60fps Videos
Samsung Brings Gear S to U.S. Next Week
Corsair Introduces Sabre RGB Mice For Gamers
Ubisoft's Assassin's Creed Unity Included with Purchase of Samsung UD590 Monitor or 850 PRO Series SSD
Apple's Tim Cook Declares His Sexual Orientation
Active Discussions
Copied dvd's say blank in computer only
Made video, won't play back easily
New Features In Firefox 33
updated tests for dvd and cd burners
How to generate lots of different CDs quickly
Yamaha CRW-F1UX
help questions structure DVDR
Questions durability monitor LCD
 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 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 At CES 2014

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 .