Under TPV’s banner, Philips eyes spot among top 5 Indian TV producers

Taiwan-based TPV Technology is eyeing a slot amongst the top five television producers in India after it relaunched the Philips brand towards the end of last year.

Sony, along with Samsung and LG, make up 75 per cent of the market with Panasonic and other brands comprise the remaining market share. TPV, which will have its first year of full operations after relaunching the Philips brand, is aiming for a 8-10 per cent market share by the end of 2020.

Under an agreement, TPV has global licensing rights to manufacture and sell Philips branded TV and audio, while Philips receives royalty. Back in 2012, Philips and TPV Technology formed TP Vision where Philips had a 30 per cent stake and the rest was owned by TPV.