The story
Philips, founded and then based in Eindhoven, designed and released its first radio receiver in 1927 and was a dominant leader in radio during the 1930s. It also presented its first television set in 1935 although its first released mass-produced model was in 1950.
In 2011, during a time when Philips was significantly downsizing, the company announced its intention to sell a majority stake in its TV business to TPV Technology, which already had the full rights to Philips computer monitors since 2009 under its subsidiary MMD-Monitors & Displays Nederland B.V. The TV business was at that point a sub-division of Philips's Consumer Lifestyle. In April 2012, all 3300 employees of Philips' TV division were transferred to TP Vision, a joint venture 70% owned by TPV Technology, headquartered in Hong Kong, China and 30% by Royal Philips Electronics. Philips also receives royalties from TP Vision.
In January 2014 Philips sold its remaining 30% equity interest in TP Vision.
In 2018, TP Vision also gained the sole license for Philips audio products in the regions it operated in at the time.
From Wikipedia’s article on TP Vision, shared under CC BY-SA 4.0.5