Chinese companies buy "Philips" TV

The international high-end brand Philips TV, once indefinable, will soon be transformed into an authentic Chinese brand. The European Commission decided on the 9th to approve the Dutch electronics giant Philips to sell television brand sales and market development in the Chinese market to China's TPV.

Philips faded out of TV business The European Commission said that the deal will not pose a significant threat to competition in the EU market, because after the acquisition of Philips TV brand, TPV Group's share of the European market is quite small, and faces strong The competition is therefore approved.

According to the agreement signed in September this year, TPV Technology Group will obtain the Philips TV brand authorization in the Chinese market. Prior to this, Philips also signed similar television brand licenses in markets such as North America, Mexico, and India. The industry believes that this shows that Philips has already faded out of the TV business globally.

In recent years, the Philips TV business, in addition to the Chinese market, has persisted in operating disastrously in other Asian markets. According to institutional data, Philips LCD TVs accounted for only 1.7% of China's market share in the first half of the year. The market ranked 11th not only far behind Skyworth, TCL and Hisense but also far behind foreign brands such as Samsung, Sharp, Sony and LG.

Millions of Euros to Buy Big Brands According to an earlier announcement from TPV, the company and its wholly-owned subsidiary, Edmond Holdings, acquired Philips’ sales shares for 1.23 million euros. TPV will take over the procurement, distribution, marketing and sales of Philips brand TVs in the mainland. The agreement will last for 5 years and will begin implementation in the fourth quarter. According to the agreement, TPV will exclusively use the Philips trademark to develop TV services in the mainland.

According to public information, TPV took over the Philips foundry factory in 2005, and in 2008 it fully took over Philips' global PC monitor business.

In an interview with the media, Xuan Jiansheng, chairman of the board of directors of TPV Technology Group, said that the acquisition of Philips TV business will enable TPV to find a breakthrough point in the mainstream TV market. Not only can we take advantage of TPV's OEM business, but we can also use Philips' mature channels to increase shipments and allow TPV to become a first-tier brand TV operator.

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