PCB | August 19, 2010
Philips outsources Chinese TV activities to TPV
TPV Technology will assume responsibility for the sourcing, distribution, marketing and sales of all Philips’ television activities in China (excluding Hong Kong, Taiwan and Macau).
The five-year minimum agreement, which is subject to governmental approvals and expected to be signed in the 3Q/2010 and implemented in the 4Q/2010, stipulates that Philips will receive royalty payments in exchange for TPV’s right to exclusively use the Philips brand name for its TV offerings in China. Other consumer businesses of Philips in China are not affected by this intended agreement. Philips has other brand licensing agreements in place for its TV businesses in North America and Mexico with Funai Electric and in India with Videocon Group.