January 20, 2014
Almost three years after announcing that they were selling their television and screen division to the Chinese giant TP-Vision and forming a joint venture with them, Philips has confirmed that only the name will remain of its televisions.
More or less is what these three years has been happening, but now, the 30% that Philips still owned in the union has passed into the hands of TP Vision, which can now say that it owns the entire business and will proceed to integrate it into its own branch of televisions. This agreement will have to be closed in 2014 after the corresponding approvals from the regulators involved.
via Philips now only has the name of their televisions.
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