Royal Philips Electronics
Innovation is the key driver of profitable growth, says Royal Philips CEO
Innovation through research and development (R&D) has always been a cornerstone of Royal Philips Electronics' business strategy, says the global electronic appliance maker, which started out as a small lighting business 120 years ago.
Frans van Houten, the president and chief executive, said innovation has been the key driver of profitable growth, especially amid the present challenging global economy.
TPV and Philips confirm LCD TV joint venture
TPV Technology, the world's largest contract producer of computer monitors, expects to consolidate its position as a global leader in liquid crystal display (LCD) televisions after acquiring the loss-making TV business of Royal Philips Electronics.
Dutch electronics giant Philips agreed to transfer its TV business into a joint venture with TPV, which will have a controlling 70 percent stake. The deal's initial term sheet was executed by the two companies on 18 April this year.
HK firm switches on to Philips TV
Royal Philips Electronics will cede control of its 80-year-old television business to a contract manufacturer from Hong Kong, less than a month after hiring a new CEO to accelerate growth.
The Dutch company said its television operation would be bundled into a new company, 70 percent owned by TPV Technology. Philips would retain a 30 percent stake and would receive royalty payments of at least EUR50 million (HKD561m, USD71.11m) a year from 2013.
Philips LED lighting revenues in 2010 to reach 10pc of total
LED lighting revenues reached 10 percent of Royal Philips Electronics' revenues (Philips) for overall lighting products in the 4Q09, and with increasing demand in 2010, the company expects LED lighting revenues to reach 15 percent of its total lighting revenues for 2010 and over 20 percent in the fourth quarter of 2010.
Philips indicated that the company will focus on developing LED lighting and aims to reach 50 percent of its total lighting revenues in 2015.
LED lighting accounts for 5-6pc of global lighting market in 2010
LED lighting is expected to account for over 5 percent of the global lighting market in 2010, up from below 2 percent in 2009, and reach USD4 billion for the year, according to Royal Philips Electronics.
Philips has indicated that LED lighting will account for 5-6 percent of the global lighting market in 2010, up from less than 2 percent in 2009, and expects the overall value of the LED industry to reach 50 percent of the total lighting industry in 2015.
New CEO of Philips Innovation takes technology to new level
Wido Menhardt is the new CEO of the Philips Innovation Campus (PIC) in Bangalore, South India – the EUR23 billion (USD27.5 billion) Royal Philips Electronics' R&D centre.
