On July 17th, Philips Electronics of the Netherlands said on Monday that it plans to reduce its shareholding in the joint venture company LG.Philips LCD to less than 20% during the year.
According to Reuters, when asked if Philips Electronics intends to reduce its stake in the joint venture LG.Philips LCD to less than 20% this year, the company's chief financial officer Pierre-Jean Sivignon replied: "This is us. The goal."
Philips is the world's largest manufacturer of lighting equipment and the third largest medical device manufacturer in the world and the largest consumer electronics supplier in Europe.
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