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Philips forms new software business group

Philips have announced the formation of Philips Software, a new autonomous business group.
The main objective of the business group is to develop and market the company's extensive portfolio of multimedia Intellectual Property (IP), based on Philips' long-standing and broad experience in the manufacture of world-class audio, video, multimedia and mobile products. Much of this IP is in the form of embedded software, which will be extended, developed and also offered as multimedia software suites. Targeting the mobile/portable market, the new group intends to secure a strong position by leveraging partnership agreements with silicon vendors, OS software houses and network providers.
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