Business News
Philips plans to improve TV business in 2010
Dec 16, 2009, 11:22 GMT
Amsterdam - Dutch electronics giant Philips plans to return its television set business to the black in 2010 through improved cooperation with Asian partners including LG, Sharp and TPV, the company said Wednesday.
Sales of classical tube television sets have plummeted in recent years with the advent of cheaper flat-screen TVs. The Dutch concern withdrew from the TV set market in the United States and from a joint venture with the South Korean manufacturer LG to make LCD displays.
The company said its new strategic concept to streamline its Consumer Lifestyle sector, including TVs, would help it 'further optimize the supply chain in Brazil, Poland and China.'
Philips 'continues to expect its TV business to post at least a break-even result in 2010.'
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