Dutch Electronics major, Philips has introduced its first Freeview+ HD personal video recorder, one that is created by Pace, and which will be put up for sale for a minimum of £284.99.

Online seller Puresatellite will be presenting the Philips HDT8520 for this cost as well as free delivery starting from tomorrow.

The Dutch electronics group Philips Electronics posted a tripling of profits for the third quarter owing to robust trading and cost-cutting measures.

Citing improved margins brought about by cost-saving measures, insurance recoveries and legal settlements, the Amsterdam-based conglomerate Philips Electronics NV surprised the market on Monday with its return to profit in the second quarter that ended June 30!

Sony, Panasonic, and Philips jointly announced on Wednesday that they are planning for a new licensing firm for Blu-ray patents, which will make the licensing process simpler and less expensive for potential Blu-ray device developers. 

Reporting its fourth-quarter loss, the first one since 2003, Royal Philips Electronics NV announced its decision of laying-off 6,000 employees, on top of the 3,000 employees laid off in the earlier quarter.

CEO Gerard Kleisterlee said that the company also intends halting its 5 billion-euro share buyback program "until further notice."

Amsterdam - Royal Philips Electronics announced on Monday it is cutting 6,000 jobs in the wake of its poor performance in the final quarter of 2008.