Jason Hsuan, chairman and CEO of TPV Technology Limited (HKG:0903), said that the company formed a joint venture with Philips to take over Philips' television business amid the partner's operating loss as the Philips brand has value in the Europe market and Philips is a long-time partner. He believes the effect and synergy of TPV's participation in Philips' TV business will be recognized as soon as in 2013. Completion is expected to take place in the second quarter of 2012 should the deal proceeds smoothly.

He is confident to improve the operation and sales of Philips' TV business, as TPV has advantage in R&D and resource cost control, and there will be economy of scale from the cooperation between the two parties.

He said that TV business and PC monitors currently contribute 33.5% and 54.9% of TPV's revenue respectively but TV business is expected to take over in the future.