Electronics Production | June 21, 2006
Philips plans to float chip division
Dutch based Electronics giant Philips plans to spin off and list its semiconductor division on the stock market or sell it.
Philips announced in late 2005 its intentions to spin off Philips Semiconductor as a standalone company in which Philips will have only a minority interest. Philips intends to reduce its ownership share in its semiconductors division in the course of the second half of 2006 to a minority stake through an IPO of the company or sale to a third party. This decision is part of a plan for Philips to move away from the semiconductor business and high volume electronics to focus on other areas.