Feeds

Philips chip biz to IPO in Q4

And 'disentangled' in Q3

Choosing a cloud hosting partner with confidence

Philips is to quit the chip business, the consumer electronics giant announced this week. It called its withdrawal from the market a "disentanglement" - untying the knot will see its semiconductor division spun off through an IPO.

The share sale will take place in the second half of the year and will leave Philips with a minority stake in the business. The said disentanglement - what a wonderfully evocative description - will be completed by the end of Q3, with the IPO taking place during the fourth quarter.

Philips' most recent figures, for Q1 FY2006, saw the semiconductor division's sales rise 20 per cent year on year, from €1.012bn to €1.219bn. The Group's sales were up 14 per cent, from €6.492bn to €7.374bn in the same periods. The chip wing was the highest sales-growth division during the quarter.

However, Philips wants to move "away from a focus on high-volume electronics and implement a strategy to build a Healthcare, Lifestyle and Technology company", CEO Gerard Kleisterlee told employees by email. To that end, the company announced in December 2005 plans to separate out the semiconductor division, the better to pave the way for a sale, merger or spin-off in due course.

Philips said the chip division will "strongly continue its business renewal strategy" and seek to widen its portfolio of application-specific semiconductors. Its new name will be revealed shortly, Philips said. ®

Beginner's guide to SSL certificates

More from The Register

next story
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Don't wait for that big iPad, order a NEXUS 9 instead, industry little bird says
Google said to debut next big slab, Android L ahead of Apple event
Xperia Z3: Crikey, Sony – ANOTHER flagship phondleslab?
The Fourth Amendment... and it IS better
Microsoft to enter the STRUGGLE of the HUMAN WRIST
It's not just a thumb war, it's total digit war
Netscape Navigator - the browser that started it all - turns 20
It was 20 years ago today, Marc Andreeesen taught the band to play
A drone of one's own: Reg buyers' guide for UAV fanciers
Hardware: Check. Software: Huh? Licence: Licence...?
The Apple launch AS IT HAPPENED: Totally SERIOUS coverage, not for haters
Fandroids, Windows Phone fringe-oids – you wouldn't understand
Apple SILENCES Bose, YANKS headphones from stores
The, er, Beats go on after noise-cancelling spat
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.