Philips sells TV division to Chinese manufacturer

Philips has more than eighty years after selling his first television, although television operations sold to the Chinese manufacturer TPV Technology. The decision was taken by the new CEO Franz van Houten because of continuing losses that the HDTV business suffers. In the first quarter of this year the department had 87 million Euros in the red writing.

The Philips name will definitely still not disappear from future TVs. Philips still retains a share of 30 percent from 2013 and receives around 50 million Euros in royalties per year. It is doubtful whether we TPV as many innovations and technological developments can we expect from Philips were accustomed in recent decades.