Philips expands to China

Dutch electronics group Royal Philips Electronics is outsourcing the sales, marketing, distribution and sourcing of its television activities in China to TPV, reports the Wall Street Journal.

"This intended agreement with TPV is aimed at strengthening the presence of the Philips brand in the Chinese TV market and is in line with Philips' global TV strategy, using different business models to optimise regional brand presence," Philips said in a statement.

Philips said the agreement, which it expects to sign in the third quarter, will come into effect in the fourth quarter and will last five years. It did not provide financial details of the deal.

IT research and advisory firm Gartner says revenue from the Indian domestic process management sector revenue will rise by 31% to $683 million this year against $521 million in 2009, reports Times of India.

The industry would continue to grow steadily up to 2014 when its income would reach $1.6 billion, it said in a statement.

Large-scale outsourcing of process management would bring in the next wave of growth in the Indian domestic IT and IT-enabled services industry, it said.

A court granted bail to the founder of one of India's largest software outsourcing services companies, his lawyer said, nearly 19 months after he was arrested for allegedly stealing millions of dollars, reveals The Canadian Press.

High Court Justice Raja Elango ordered Satyam Computer Services founder Ramalinga Raju to pay four million rupees in bail and not leave the city while the case in on trial, attorney Bharat Kumar said.

Raju has been undergoing treatment for hepatitis in a hospital in Hyderabad, the capital of Andhra Pradesh state, for the past nine months while in police custody.