Royal Philips Electronics of the Netherlands and Hong Kong-listed TPV Technology have reached an agreement on PC monitor business transfer and brand licensing, according to a report by EE Times on July 8. By year-end 2008, Philips is scheduled to complete the transfer of its PC monitor business to TPV, which will then distribute, market, and sell PC monitors under the Philips brand name. As per the terms of the agreement, Philips will receive in return royalties based on revenues.