Philips sells majority share in optics

Shareholders of Royal Philips Electronics will see a loss of €12m in first quarter results as the company sells off a 90 per cent share of its Chinese optics business.
The value of the sale of High Tech Plastics (HTP) Optics in Suzhou, China, to Hong Kong’s Triumph Pan-Pacific Capital Limited, was undisclosed.
HTP Optics Suzhou manufactures plastic, high-precision lenses used in camera phones, CD and DVD readers and in scanners. It employs around 300 people, primarily based in Suzhou.
According to Philips, the sale represents its shift in focus to its healthcare, lighting and consumer lifestyle businesses.
Register now to continue reading
Thanks for visiting The Engineer. You’ve now reached your monthly limit of news stories. Register for free to unlock unlimited access to all of our news coverage, as well as premium content including opinion, in-depth features and special reports.
Benefits of registering
-
In-depth insights and coverage of key emerging trends
-
Unrestricted access to special reports throughout the year
-
Daily technology news delivered straight to your inbox
CCC Report Finds UK Climate Targets Still Within Reach
In 1990 67% of the UK´s electricity came from coal-fired power stations and even without renewables the transition to gas was a major contributor to...