Key Developments: Koninklijke Philips NV (PHG.AS)

PHG.AS on Amsterdam Stock Exchange

17 Apr 2014
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Latest Key Developments (Source: Significant Developments)

FUNAI ELECTRIC CO LTD to file counterclaim against Koninklijke Philips for a breach of contract and misrepresentation
Friday, 6 Dec 2013 01:30am EST 

FUNAI ELECTRIC CO LTD:Says it has filed a counterclaim (compensation for damages) against Koninklijke Philips N.V.Says Philips was unable to timely complete the spin-off of Philips’ Lifestyle Entertainment Business (Business) despite two postponements of the completion date of the transaction (Transaction).Says the Business Philips intended to sell to Funai differed markedly from what Philips explained to Funai, and the profitability of the Business has been notably declining this business year.Says despite the situation above, Philips insisted that Funai complete the Transaction.Says although Funai was continuing with negotiations to complete the Transaction, Philips suddenly and unilaterally broke off negotiations and filed a petition for arbitration with the International Court of Arbitration on Oct. 25.  Full Article

Lead Data Inc Signs Settlement Agreement with Koninklijke Philips
Friday, 22 Nov 2013 01:11am EST 

Lead Data Inc announced that it has signed a settlement agreement with Koninklijke Philips on November 22, 2013, regarding a lawsuit filed by Koninklijke Philips against Lead Data Inc with Taiwan Patent & Intellectual Property Court, due to a optical disc product patent infringement dispute. The details of the agreement was not disclosed.  Full Article

Koninklijke Philips NV and RealView Imaging Ltd. Complete Clinical Study to Evaluate Live 3D Holographic Visualization in Interventional Cardiology
Monday, 28 Oct 2013 10:28am EDT 

Koninklijke Philips NV and RealView Imaging Ltd. announced that they have completed a clinical study that has demonstrated the feasibility of using a new live 3D holographic visualization and interaction technology to guide minimally-invasive structural heart disease procedures. In the pilot study that involved eight patients and was conducted in collaboration with the Schneider Children's Medical Center in Petach Tikva, Israel, RealView's visualization technology was used to display interactive, real-time 3D holographic images acquired by the Company's interventional X-ray and cardiac ultrasound systems. The study demonstrated the potential of the technology to enhance the context and guidance of structural heart repairs.  Full Article

FUNAI ELECTRIC CO LTD Announces Notice Regarding Global Licensing Agreement for Koninklijke Philips Electronics NV Audio, Video, Multimedia and Accessories Business
Friday, 25 Oct 2013 09:50pm EDT 

FUNAI ELECTRIC CO LTD announced that it has received notice from Koninklijke Philips Electronics NV (hereinafter PHILIPS) on October 25, 2013 that PHILIPS will terminate the agreement with Funai to transfer all shares in a company that will hold the operations of the PHILIPS’ Lifestyle Entertainment Business. At the same time PHILIPS informed Funai that it will take legal action to recover damages caused by an alleged breach of contract by Funai and that it will submit a request for arbitration at the International Court of Arbitration (ICC). In response, Funai states that there is no such breach of the SPA and that Funai at all times has respected and continues to respect the terms and conditions of the agreement.  Full Article

Philips to renew street lighting in Buenos Aires
Tuesday, 15 Oct 2013 08:00pm EDT 

Koninklijke Philips NV:Selected by government of city of Buenos Aires to renew street lighting system with LED technology.Majority of 125,000 existing street lights to be replaced with new LED luminaires within three-year term.Contract awarded as result of public bidding process.  Full Article

Koninklijke Philips NV And Dubai Municipality Sign Memorandum Of Understanding
Monday, 30 Sep 2013 08:00pm EDT 

Koninklijke Philips NV announced that it has signed a Memorandum of Understanding (MoU) with Dubai municipality to transform Municipality buildings from conventional to LED lighting. In presence of His Excellency Dr. Rashid Ahmed Mohammed Bin Fahad, Minister of Environment and Water, the Company has signed a memorandum of understanding (MoU) with the Dubai Municipality to support the transformation of the Municipality’s 262 buildings from conventional lighting infrastructure to energy efficient LED based solutions. The agreement was duly signed by Eng. Hussain Nasser Lootah, Director General of Dubai Municipality and Mr. Eric Rondolat, Chief Executive Officer, Philips Lighting.  Full Article

Koninklijke Philips NV Confirms FY 2016 Sales Targets; Comments on FY 2016 EBITA Guidance-Reuters
Tuesday, 17 Sep 2013 05:42am EDT 

Reuters reported that Koninklijke Philips NV is keeping its sales growth target of 4-6% for the period up to the end of fiscal year 2016 unchanged. The Company also said it was targeting a margin of 11-12% on earnings before interest, tax and amortisation (EBITA) for fiscal years 2014-2016, compared with the 10-12% it is aiming for in fiscal year 2013.  Full Article

Koninklijke Philips NV to Buyback EUR1.5 Billion Share-Reuters
Tuesday, 17 Sep 2013 02:53am EDT 

Reuters reported that Koninklijke Philips NV said it would spend another EUR1.5 billion ($2 billion) on buying back its shares over the next two to three years.  Full Article

Koninklijke Philips NV Signs Collaboration Agreement With Medisch Centrum Leeuwarden-DJ
Monday, 2 Sep 2013 03:05am EDT 

Dow Jones reported that Koninklijke Philips NV has signed a 10-year collaboration agreement with Medisch Centrum Leeuwarden for the supply and application of echographic technologies for the cardiology department of MCL. The Company is also to provide additional services such as maintenance, upgrades of machinery and programs, support, training and financing. Financial terms of the agreement were not disclosed.  Full Article

ARCADIS NV And Koninklijke Philips NV Sign Worldwide Project Management Contract
Monday, 26 Aug 2013 01:30am EDT 

ARCADIS NV and Koninklijke Philips NV announced they have signed a framework agreement for delivering worldwide project management services. It is one of a limited number of framework contracts Philips engages in with consultancies in this field. The services include the deployment of Philips' Global Workplace Innovation program. The project management contract applies to relocations, office building refurbishment, research and development facilities, projects at industrial sites, environmental projects and office decommissioning, among others. The three year contract includes two possible extensions of one year. Financial terms of the agreement were not disclosed.  Full Article

Apple, Intertrust settle year-old patent suit

April 4 - Apple Inc has agreed to settle a year-old patent infringement lawsuit with Intertrust Technologies Corp, a software firm owned by a group that includes Sony Corp and Philips, according to court filings.

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