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Philips cuts losses and quits TV market


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Philips cuts losses and quits TV market

Philips has finalised the spinoff of its loss-making TV division begun last November, retaining just 30% in a joint venture with Hong Kong’s TPV Technology, to be known as TP Vision.

The Philips decades-old brand name has been bought by other TV makers for, among others, the US, Chinese and Indian markets. At the turn of the century the Dutch electrics and electronics giant moved more into medical equipment.

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