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Under
the terms of this agreement, TPV, which
produces PC monitors, will assume responsibility
for sourcing, distribution, marketing and
sales of all Philips’ IT Displays activities
worldwide. As part of the intended brand
licensing agreement, TPV can exclusively
use the Philips brand name for PC monitors
worldwide, in exchange for which Philips
will receive revenue-based royalty payments.
The
intended agreement with TPV represents a
further step by Philips to fundamentally
reposition itself in the digital display
business and accelerates Philips’ efforts
to address the unsatisfactory performance
of its television business.
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