The combined company, which has to TPV with 70 percent of the majority of the shares will sell in future Philips televisions and thus secure the future of the Dutch TV brand. Development and manufacture of the devices is under the same roof, act as the research department of Philips and the manufacturing facilities of TPV combines. The basic terms of the transaction are the same as the announcement of November 2011.
Maarten De Vries will lead the group with headquarters in Amsterdam, the Netherlands, as CEO, where Philips TVs in Europe, Russia, the Middle East, Brazil, Argentina, Uruguay, Paraguay and selected countries in the Asia-Pacific region will be marketed. The nearly 3,300 employees of the former Philips TV unit (Philips Television) as well as innovation and manufacturing facilities, commercial departments, and even called the headquarters move to TP vision.
It was not until about a week ago Samsung Electronics announced that the LCD production would face a potential break. Now to the future plans already have been approved by the Board, the BBC reported.