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The companies initially planned to start their partnership late last year, but the deal was delayed. TPV will own 70 percent of the venture.
A site that focuses on HDTVs claims to have obtained information on the sets from a "credible source."
Hong Kong-based TPV Technology will take control of 70 percent of the operation, as Philips seeks a return to profit for the television operation.
The LT-46P510 is noteworthy for its 120Hz refresh rate and flip-down iPhone/iPod dock, which allows you to play music and movies right from your device.
Samsung admits to flaw in Blu-ray player