Philips Enters Flat-Screen TV Agreement with TPV Jun 20, 2005

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Consumer electronic makers Royal Philips Electronics (Amsterdam, The Netherlands) and TPV Technology Limited (Hong Kong, China) announced that they have signed a definitive agreement for the sale and transfer of certain Philips' monitor and entry-level flat-screen television business to TPV.

As part of the agreement, TPV will take over Philips' existing OEM monitor business and the manufacturing of monitors and entry-level flat-panel TV products that Philips will continue to market and sell under its own brand.

Due to the agreement, TPV will reportedly become the world's largest PC monitor manufacturer with annual volume well exceeding 35 million units.

The businesses transferred from Philips to TPV amount to approximately U.S. $2 billion.

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