Philips has been making teevees for over 80 years, but today its new CEO has announced that this storied history is coming to an end. Unable to generate a profit from its HDTV division -- it lost the company €87 million in the first quarter -- Philips will soon sell the majority stake in it to Hong Kong manufacturer TPV Technology, while retaining a 30 percent ownership share and agreeing guaranteed royalty payments of €50 million per year from 2013 onwards. It's not a bad deal for the Dutch consumer electronics maker, whose bottom line for the first quarter was €137 million in the black, but would have been double that had the new arrangement been in place. All 4,000
