InfoAnda - Philips CEO turns off TV in search of profit |

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Researchers report breakthrough in ALS cause | 23 August 2011
Latest Oscar telecast most watched in five years | 9 March 2010
Israel detains 100 women in murder investigation | | 7 April 2011

Japan says ready to shoot down NKorea missile | 28 March 2009

Forum Views () Forum Replies ()

Read more with google mobile : Philips CEO turns off TV in search of profit |

Edition: U.S. Article Comments (0) Follow Reuters Facebook Twitter RSS YouTube Read IRS offers tips to avoid mistakes on deadline day 9:43am EDT Palin returns with feisty, anti-establishment speech 16 Apr 2011 U.S. credit outlook cut by S&P on deficit concerns 11:27am EDT Citi profit falls 32 percent as bond trading weakens 11:33am EDT Philips CEO turns off TV in search of profit 9:43am EDT Discussed 83 Obama to lay out deficit plan with focus on tax, spending 82 White House warns on debt limit, says Obama regrets vote 82 Palin returns with feisty, anti-establishment speech Watched Cupless bra combats cleavage crinkle Fri, Apr 15 2011 South Korean "super gun" packs hi-tech killing power Mon, Feb 14 2011 Deadly tornadoes pound southern U.S. Sun, Apr 17 2011 Philips CEO turns off TV in search of profit Tweet Share this By Roberta B. Cowan AMSTERDAM (Reuters) - Philips is hiving off its once leading television business, the first step by new chief executive Frans van Houten to boost flagging profit at Europe's biggest consumer electronics maker. Philips is moving... Email Print Related News French and Benelux stocks-Factors to watch on April 18 2:09am EDT PREVIEW-Philips Q1 profit seen hit by TV woes Sun, Apr 17 2011 CORRECTED-UPDATE 6-Hasbro profit falls as it invests more in TV Fri, Apr 15 2011 UPDATE 9-BofA profit drops as foreclosure delays hurt bank Fri, Apr 15 2011 Best Buy to shrink big boxes; concerns linger Thu, Apr 14 2011 Analysis & Opinion What is tax deductible for small business? Common budget mistakes for tech startups Related Topics Technology » Deals » Global Deals Data 2011 Q1 » Inflows Outflows » Stocks Workers put up a sign at the Philips Electronics booth before the Consumer Electronics Show (CES) at the Las Vegas Convention Center in this January 3, 2008 file photo. Philips is hiving off its once leading television business, the first step by new chief executive Frans van Houten to boost flagging profit at Europe's biggest consumer electronics maker. Philips is moving its loss-making TV business to a 30/70 joint venture with Hong-Kong based monitor maker TPV and has the option to sell out. The Dutch group has struggled to compete against players like Samsung and LG Electronics. Van Houten, a restructuring expert who took over as CEO this month, said on April 18, 2011 he is assessing the profitability of Philips' 400 or so business areas, a hint that further divestments could be on the cards. Credit: Reuters/Las Vegas Sun/Steve Marcus/Files ( By Roberta B. Cowan AMSTERDAM | Mon Apr 18, 2011 9:43am EDT AMSTERDAM (Reuters) - Philips is hiving off its once leading television business, the first step by new chief executive Frans van Houten to boost flagging profit at Europe's biggest consumer electronics maker. Philips is moving its loss-making TV business to a 30/70 joint venture with Hong-Kong based monitor maker TPV and has the option to sell out. The Dutch group has struggled to compete with lower-cost Asian rivals Samsung and LG Electronics. Van Houten, a restructuring expert who took over as CEO this month, said he was assessing the profitability of Philips's 400 or so business areas and "taking the blanket off" its laggards, a hint that further sales could be on the cards. "We are not yet firing on all cylinders ... There's much unlocked potential in Philips," Van Houten told Reuters Insider. Philips shares opened lower on the news, but rebounded soon after. By 1410 GMT they were down 1 percent, while the Amsterdam market was down 1.7 percent. Trading in TPV's shares was halted at the request of the company earlier on Monday. Van Houten said he would present a new strategic plan in the second half of the year. Three weeks into his new job, he has scrapped his predecessor's target for an annual revenue increase of 2 percentage points above global gross domestic product growth between 2011 and 2015, citing the TV divestment and the impact of Japan's massive quake, which has disrupted the supply chain for both the health and lighting businesses. Philips did not give a value for the TV deal, saying it would receive a deferred payment from TVP. It said all 3,600 employees at the TV business would transfer to the Hong Kong company, and job cuts could not be ruled out. TPV, which controls about 33 percent of the global computer monitor market, posted a near 20 percent rise in 2010 profit. "It's a major positive," ING analyst Sjoerd Ummels said of the deal. "It's clear (Van Houten) will address laggard businesses." These could include the audiovisual and multimedia business, which Philips said would be merged into its lifestyle entertainment unit in Hong Kong. Van Houten said even acquisitions from the past decade would be scrutinized -- including home healthcare firm Respironics and lighting fixtures group Genlyte, which have not yet shown sufficient synergies. Philips is the world's biggest lighting maker and a top three hospital equipment maker. LEADER TO LAGGARD The company showed its first television to the Dutch public in 1928 -- a bulky, box-like contraption that was a far cry from its current sleek, flatscreen models. 1 2 Next Technology Deals Global Deals Data 2011 Q1 Inflows Outflows Tweet this Share this Link this Digg this Email Reprints We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. Comments (0) Be the first to comment on reuters.com. Add yours using the box above. Social Stream (What's this?) © Copyright 2011 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Reader Feedback Mobile Newsletters RSS Podcasts Widgets Your View Analyst Research Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week FindLaw Super Lawyers Attorney Rating Service Reuters on Facebook Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Other News on Monday, 18 April 2011
Iran's Khamenei rejects minister's resignation: report |
Egypt puts top ex-ministers on trial in graft crackdown |
Cubans welcome Castro call to limit leaders' terms |
Protesters and police clash in northern Iraq, 35 wounded |
Anti-euro populists surge in Finnish vote |
RIM studies bid for Nortel wireless patents: report |
Analysis: Google's Page and Wall Street: Who needs who? |
Iran accuses Siemens over Stuxnet virus attack |
Samsung eyes sale of hard-disk-drive unit: report |
Technology can't replace God: Pope |
Rio rocks box office while Scream 4 bombs |
Gaddafi presses Libyan rebels, West says no troops |
Car bombs kill 3 near Baghdad Green Zone: sources |
Most Japan voters want new PM |
True Finns set for government, see EU bailout changes |
Dominant Berlusconi unbowed by trials |
Uganda detains opposition leader over protests |
A rising star battles India's communist bastion |
RIM studies bid for Nortel wireless patents: report |
Analysis: Google's Page and Wall Street: Who needs who? |
Philips divests TV ops as quarterly net profit disappoints |
LG Display posts quarterly loss on tumbling LCD price |
Samsung eyes sale of hard-disk-drive unit: report |
Rio rocks box office while Scream 4 bombs |
Thor gets summer off to thunderous start |
Superman Returns director offers mea culpa |
Foo Fighters tear to top of UK album chart |
Variety loses to punk band in album cover dispute |
London hit War Horse makes thrilling Broadway bow |
Tribeca film festival turns ten |
Many dead in Nigerian election protests |
Ugandan army, police fire tear gas at protesters |
Clashes in Yemen coastal town wound 88 |
Hundreds in Gaza honor slain Italian activist |
Thousands demand overthrow of Assad after deaths |
Cuba congress embraces, refines Raul Castro reforms |
Bahrain PM says protests amounted to coup attempt |
Insurgent strike inside Afghan Defence Ministry, 2 dead |
Philips CEO turns off TV in search of profit |
LG Display flags sector recovery on steadier prices |
RIM studies bid for Nortel wireless patents: report |
Analysis: Google's Page and Wall Street: Who needs who? |
Iran accuses Siemens over Stuxnet virus attack |
Samsung eyes sale of hard-disk-drive unit: report |
Technology can't replace God: Pope |
Russia looks abroad for web laws, including to China |
UAE to limit some BlackBerry services, paper says |
Sprint CEO blasts AT&T/T-Mobile mega-deal |
Rio rocks box office while Scream 4 bombs |
Woody Allen casts Page and Eisenberg in new film |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01