TP Vision

TP Vision is a company that TV from Philips designs and manufactures. It is originated from the television division of Philips. TP Vision employs 2,000 people worldwide.

History

On 18 April 2011, Philips announced to spin off its loss-making TV division. This should be implemented by selling 70 % stake in TPV Technology, headquartered in Hong Kong. On 2 November 2011, the elimination of the television division was fully decided to be introduced into a joint venture with TPV Technology. On April 2, 2012, the joint venture took shape under the name TP Vision its business on. On January 20, 2014 Philips announced its intention to sell the remaining 30 percent of the joint venture partner to the TPV. The rights to use the Philips brand for TVs reserves TPV for it according to Philips CEO Frans van Houten has to pay 2.2 percent of the annual TV sales revenues as royalty to Philips, but at least 40 million euros.