Dutch electronic appliances giant Philips is in talks to sell all or part of its holding in the liquid-crystal display venture LG.Philips LCD, the Philips chief executive said 22 May 2007, adding that…
Dutch electronic appliances giant Philips is in talks to sell all or part of its holding in the liquid-crystal display venture LG.Philips LCD, the Philips chief executive said 22 May 2007, adding that the company planned to focus on units producing medical equipment, lamps and consumer goods. Philips is “engaged in discussions” with its venture partner, the South Korean company LG Electronics, and “with people that might be interested in taking our role in the joint venture”, the chief executive, Gerard Kleisterlee, said at the Electrical Products Group 2007 Annual Spring Conference in Longboat Key, Florida. Philips “will start to move there” after a “lockup” expires in July 2007 on its 33% stake in the venture, he said in comments available on the Internet.