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LG and Philips / TP Vision announce Smart TV Alliance for cross platform TV apps
Following up on last year's promise to build a standardized SDK for creating Smart TV apps, LG and TP Vision (the new owner of Philips' TV business) have announced the creation of the Smart TV Alliance. Its goal is to create a "non-proprietary ecosystem" to encourage developers to make platform-independent apps based on standards like HTML5. One of the main problems currently for the Smart TV market is that there's many different platforms, some manufacturer specific while others like Google TV and Yahoo! Widgets play across differently branded devices. Curiously, Sharp was included in the previous announcement at IFA last fall and is not mentioned by name this time around, although the press release hints at "other Japanese manufacturers" in the process of joining that will be announced accordingly. The current plan is to release SDK 2.0 by the end of this year, until then interested devs are asked to register on the group's website for more info.
Philips transfers TV business to a joint venture with TPV Technology, TPV takes the controlling stake
It took almost exactly a year, but Philips is finally free of its pesky, money-losing TV problem. As planned, the company transferred its television business into a joint venture with Hong Kong-based TPV Technology called TP Vision -- an arrangement that endows TPV with a controlling 70 percent stake. (Philips will still receive royalties on top of whatever it earns through this venture, and plans to sell Philips-branded sets in the US through a separate partnership with Funai.) Though the deal was first detailed a year ago, Philips only announced today that the transaction had closed. Now that it has, the newly formed company will produce Philips-branded TVs in a bid to make it one of the "top three players," according to TP Vision chief Maarten de Vries. As you'd expect, all of the 3,300 employees that previously fell under Philips' television division will now be in the employ of TP Vision, and Philips' various manufacturing sites have been transferred over too. All of that and a healthy dose of rah-rah in the full PR below.
Philips sells HDTV business to Hong Kong-based TPV Technology, will sate itself with royalty payments
Philips has been making teevees for over 80 years, but today its new CEO has announced that this storied history is coming to an end. Unable to generate a profit from its HDTV division -- it lost the company €87 million in the first quarter -- Philips will soon sell the majority stake in it to Hong Kong manufacturer TPV Technology, while retaining a 30 percent ownership share and agreeing guaranteed royalty payments of €50 million per year from 2013 onwards. It's not a bad deal for the Dutch consumer electronics maker, whose bottom line for the first quarter was €137 million in the black, but would have been double that had the new arrangement been in place. All 4,000 Philips employees working under the HDTV umbrella will be transferred over to TPV, though the company says it doesn't want the "market to misread that [it] intend to lay-off a lot of employees." Which is not to say that it won't. A video interview with Philips' chief Frans van Houten discussing the change of direction can be found after the break.
