Philips warns over television sector losses

March 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: SAMSUNG Electronics Regains No. 1 Spot in LCD Market

Related Stories

SAMSUNG Electronics Regains No. 1 Spot in LCD Market

December 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 giant’s ...

Philips posts surprise profit as cost cuts help

October 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.

Recommended for you

Microsoft describes hard-to-mimic authentication gesture

August 1, 2015

Photos. Messages. Bank account codes. And so much more—sit on a person's mobile device, and the question is, how to secure them without having to depend on lengthy password codes of letters and numbers. Vendors promoting ...

Power grid forecasting tool reduces costly errors

July 30, 2015

Accurately forecasting future electricity needs is tricky, with sudden weather changes and other variables impacting projections minute by minute. Errors can have grave repercussions, from blackouts to high market costs. ...

Netherlands bank customers can get vocal on payments

August 1, 2015

Are some people fed up with remembering and using passwords and PINs to make it though the day? Those who have had enough would prefer to do without them. For mobile tasks that involve banking, though, it is obvious that ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.