It develops, manufactures and markets Philips branded TV sets and Philips Professional Displays and LEDwalls in Europe, Russia, the Middle East, Brazil, Argentina, Uruguay, Paraguay, Mexico, Peru, Chile and selected countries in Asia-Pacific, serving both the consumer and hospitality markets.

In 2011, Philips announced its intention to sell a majority stake in its HDTV business to TPV Technology.

[1] In April 2012, all 3300 employees of Philips' TV division were transferred to TP Vision, a joint venture 70% owned by TPV Technology, headquartered in Hong Kong, China and 30% by Royal Philips Electronics.

Through the use of cookies and logfiles, TP Vision was found to be able to monitor when a Philips smart TV is switched on, which programmes are being watched, which websites are being visited and which apps are being used, without clearly informing their customers and asking their prior permission.

[5][6][7] In response, TP Vision stated it would change its practices to conform to the law.