Philips drops a business
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AMSTERDAM Philips Electronics will stop making low-end computer monitors and flat-screen televisions for itself and other brands, the Dutch company said Thursday, turning the business over to the Hong Kong manufacturer TPV Technology.
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The company has decided to leave the public markets.
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LONDON, November 25  - Dutch electronics and semiconductor giant, Philips (PHI1.ETR), has sold its entire stake in the French media company, Vivendi Universal.
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LONDON (CBS.MW) -- Philips Electronics on Friday lowered its forecast for semiconductor sales, just two days after the head of the unit said he was stepping down.
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(InfoWorld) - Philips Semiconductor unveiled its new name Thursday, becoming NXP after 50 years as the semiconductor division of the Dutch electronics conglomerate. NXP stands for "Next Experience," the company said in a statement. The name was changed afterÂ a group of private equity firms bought an 80.1 percent stake in the company. Bain Capital, Silver Lake Partners, Apax and AlpInvest Partners NV worked withÂ leader Kohlberg KravisÂ RobertsÂ & Co.Â on the deal, and Koninklijke Philips Electronics N.V. retained a 19.9 percent stake in the chip maker. Frans van Houten will continue as the company's chief executive officer. The new shareholders will invest â¬1 billion (US$1.28 billion) in research and development, the company said, but did not specify over what period. The company will maintain its headquarters in Europe, with a total of about 37,000 employees in 20 countries.
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Standard Chartered drops a plan to rescue its investment vehicle that was exposed to the sub-prime crisis.
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Philips sells off its 16.2 percent stake in a Taiwanese semiconductor company that it helped start up.
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Business & money: Deal forced to be scrapped as the fallout from the sub-prime markets continues to spread
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The business in which Kodak made its name, film processing and conventional photography, is in decline.
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After an absence of a decade, Philips  Electronics is making personal computers again, the company  said on Thursday.  The Netherlands-based electronics  conglomerate, which abandoned the PC business in the early  1990s after suffering big losses, quietly introduced six models  together with British retailer Dixons earlier this week.
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LG.Philips LCD is changing its name to LG Display, after Philips Electronics reduced its stake in the company.
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A major restructuring process has pulled this respected audio company into penny land.
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Europe's top consumer electronics  group Philips cut the forecast for its closely-watched  semiconductor unit on Friday, pointing to the predicted  slowdown of the sector's recovery.
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Philips Electronics NV, the Dutch electronics maker, said Wednesday it will take a &#36;752 million charge in the fourth quarter to reduce the estimated value of its stake in U.S. medical transcription company MedQuist Inc.
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Business & money: The owner of retail chains including Currys and PC World is to stop selling analogue television sets
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Royal Philips Electronics, one of Europeâs largest makers of medical equipment and electronics, said it would more than double profit by 2010 as it streamlines the company. The chief executive, Gerard Kleisterlee, left, said the company was also pursuing acquisitions in health care, lighting and consumer lifestyles, with a focus on emerging markets, namely those in Asia. âWe are always in talks,â he said. âThe timing of acquisitions is always unpredictable.â Philips is paring its business units into three sectors, which will save an estimated 150 million euros to 200 million euros ($205 million to $274 million) by 2010, Mr. Kleisterlee said.
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AMSTERDAM Philips Electronics, Europe&#39;s third-largest maker of semiconductors, on Friday reduced its third-quarter chip sales forecast, saying demand is waning.