Top Headlines May 2012 - part 3

Joint Venture: Philips Finalizes TV Spin-Off With TPV Technology

Joint Venture: Philips Finalizes TV Spin-Off With TPV Technology

FINANCE

  • TVP to take 70% stake in TP Vision; Philips gets 30%
  • 3,000 Philips TV employees to be retained in new venture
  • Philips television division racked up losses of €1 billion in last 5 years

Dutch electronics company Philips has finalized terms for a joint venture with Hong Kong-based TVP Technology for the transfer of its struggling television arm.

Computer and LCD screen manufacturer TVP will have a 70% stake in the new TP Vision business, which will be based in Amsterdam. Philips will hold the remaining 30%.

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Tepco Seeks $22 Billion Bailout from Japanese Government

Tepco Seeks $22 Billion Bailout from Japanese Government

BUSINESS

  • Tokyo Electric Power Co. needs funds to run company, pay compensation
  • Company on verge of insolvency
  • Bailout could lead to reform of utility industry

Tokyo Electric Power Co., the power company behind the Fukushima Daiichi nuclear station disaster, will seek $22.2 billion from the Japanese government. Of that amount, $12 billion will be used to keep the company afloat, and $10.2 billion will be used to pay compensation claims.

Last March, the Fukushima plant suffered a meltdown caused by an earthquake and tsunami. Over 100,000 people were displaced after radiation was released into the air. Fishing and farm industries were also affected.

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Android to Leapfrog Windows in Smart Connected Device Market By 2016

Android to Leapfrog Windows in Smart Connected Device Market By 2016

BUSINESS

  • Android to take 31.1% market share by 2016
  • Windows market share to drop to 25.1%
  • iOS share to rise to 17.3%

Android will overtake Windows as the world’s most popular smart connected device platform by 2016, according to a report from the International Data Corporation.

The Windows x86 operating system is currently the leader in the smart connected device market, with 35.9% share. However, IDC predicts a sharp drop in the popularity of Microsoft’s platform over the next five years, forecasting its share to slump to 25.1% by 2016.

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