Philips moves TV biz into venture
Philips said today that it will move the division into a joint venture with TPV Technology and cede control of the partnership by keeping a 30 percent stake.
The company has a target for earnings per share to grow at twice the rate of sales until 2015 as Philips focuses on more profitable lighting and medical products and faster-growing markets including India and Brazil. Revenue excluding acquisitions, disposals and currency shifts will increase 2 percentage points faster than global economic growth, Philips said when it set the goals. It excluded TV operations.
The company has a target for earnings per share to grow at twice the rate of sales until 2015 as Philips focuses on more profitable lighting and medical products and faster-growing markets including India and Brazil. Revenue excluding acquisitions, disposals and currency shifts will increase 2 percentage points faster than global economic growth, Philips said when it set the goals. It excluded TV operations.
