Electronics Production | June 30, 2006
IPO or sell-out for Philips' chips
Philips appears to have been unsuccessful to find a chip manufacturer to merge its chip division with. Therefore the company has now entered the planning stage of making an IPO or maybe selling out a major stake in the chip business.
One other reason to why Philips are making these plans may be that the company has a desire to move away from the focus on high volume electronics, reported electronicsweekly. “The future deconsolidation of semiconductors is a further step for Philips in moving away from a focus on high volume electronics and implementing a strategy to build a healthcare, lifestyle and technology company,” Philips CEO Gerard Kleisterlee told electronicsweekly.