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Koninklijke Philips N.V.

Koninklijke Philips N.V.

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Publicatie datum 18 apr 2011 - 06:56
Statutaire naam Koninklijke Philips N.V.
Titel Philips and TPV to create strong global Television company
Bericht Amsterdam, the Netherlands – Royal Philips Electronics (NYSE:PHG, AEX:PHI) today announced that it has entered into a term sheet to transferits Television business into a joint venture with TPV Technology (0903.HK) as part of a long-term strategic partnership. The new company will be 70% owned by TPV and 30% by Philips. “The partnership will help create the scale and focus needed for our Television business to return to profitability and to be successful in the very dynamic television industry,’’ said Philips Chief Executive Officer Frans van Houten. “We are committed to the continuity of Philips Televisions in the market through this venture. The partnership will leverage the strength of the Philips brand, innovation power and trade relationships, with the additional scale and manufacturing strengths of TPV. This decisive step is the right one for the television business, Consumer Lifestyle and Philips as a whole.’’ “We are very excited to have Philips as partner in this TV joint venture,’’ said TPV Chairman and Chief Executive Officer Jason Hsuan. “We have had a solid working relationship with Philips for many years and we are confident that together we can become a leading player in television globally. Today’s announcement marks an important step in realizing our growth ambitions in the television business and I am delighted to work with Philips as a partner on this.’’ The joint venture will be responsible for the design, manufacturing, distribution, marketing and sales of Philips’ Television business worldwide, with the exception of mainland China, India, United States, Canada, Mexico and certain countries in South America. As part of the transaction, Philips will grant the joint venture the right to use the Philips brand, under certain strict quality and customer care standards, for the Television business worldwide, excluding the above-mentioned territories. In exchange, Philips will receive revenue-based royalty payments.