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Philips Reclassifies its Mobile Display Systems Activities Under 'Other Activities'

Royal Philips Electronics has announced it has transferred its Mobile Display Systems (MDS) activities from its "Semiconductors" Division to "Other Activities". MDS operates in a rapidly changing business environment, and over the past few years, synergies between MDS and Semiconductors have decreased significantly. Through this transfer, Philips aims to simplify the structure of its Semiconductors activities and enable the Semiconductors management team to focus on improving its core operations. By placing MDS within "Other Activities", Philips will be able to focus on MDS as a stand-alone business. The transfer is effective as of January 1, 2005.

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