Philips warns over television sector losses

Mar 28, 2011

Dutch electronics giant Philips warned Monday that it expects losses of between 100-120 million euros ($140-169 million) from its television business as pricing pressures mount.

"Pricing pressure remained severe in the television market, while took clear actions to further reduce inventory," the group said in a statement.

Philips, which will issue its first quarter results on April 18, reiterated that "profitability in its television business remains a major issue and resolving this is an absolute priority for the company."

In January the electronics giant reported a more than three-fold rise in net overall income for 2010 due to increased emerging market sales.

for the year was 1.45 billion euros ($1.96 billion), up from 410 million euros in 2009.

However Philips warned then that consumer sentiment in mature markets remains subdued, pointing in particular to the market.

Philips, a manufacturer of medical equipment, televisions and lighting systems, employs about 119,000 people in more than 60 countries.

Explore further: Sony surprises with first quarter profit

add to favorites email to friend print save as pdf

Related Stories

Philips posts surprise profit as cost cuts help

Oct 12, 2009

Dutch electronics giant Philips reported on Monday a surprise profit for the third quarter as a series of cost cutting measures to cope with the global slump helped the bottomline.

SAMSUNG Electronics Regains No. 1 Spot in LCD Market

Dec 20, 2004

Samsung Electronics regained the No. 1 position in the global liquid crystal display (LCD) market last month from LG.Philips LCD, according to the Texas-based display market research firm, DisplaySearch. The electronics gian ...

Recommended for you

Sony surprises with first quarter profit

3 hours ago

(AP)—Sony Corp. reported a surprise eightfold jump in quarterly profit Thursday as sales got a perk from a cheap yen and its bottom line was helped by gains from selling buildings and its stake in a video-game maker.

Samsung profit falls as smartphone sales slow

3 hours ago

(AP)—Samsung Electronics Co. reported a bigger-than-expected fall in second quarter profit on Thursday and said it was uncertain if earnings from its handset business would improve in the current quarter.

Why let your sales force influence product prices?

23 hours ago

From the outside, you might not notice the ongoing tension within many large businesses: the battle between salespeople, on the one hand, and marketers and product managers, on the other. Because the salespeople ...

User comments : 0