Monday, October 20, 2014
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
SK Telecom and Samsung Join Hands to Lead 5G Network Technology
Pantech Applied for Bankruptcy Protection In The US
IBM To Offload Chip Business To Globalfoundries: report
Microsoft To Launch A Wearable Device Soon
FCC To Explore High-frequency Wireless Technologies
Mozilla Hello Offers Voice and Video Calls Through The Browser
Samsung Adds Intel Processor To Chromebook 2
LG Ultra-Portable HD MiniBeam Projector Features Built-in Battery
Active Discussions
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
IBM supercharges Power servers with graphics chips
 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 .