Consumer electronics company ROYAL Philips NV has reported that its net profit declined by 27% to 100 million euros in the first quarter of 2015. According to the company, the net profit has slumped as higher restructuring costs wiped out gains from higher sales.
Philips, which is the biggest lighting maker in the world, stated that sales of the company rose 14% to about 5.34 billion euros. Strong growth from the company’s ‘Consumer Lifestyle’ has helped the company to see rise in the sales. The ‘Consumer Lifestyle’ division of Philips includes kitchen appliances, dental hygiene and hair removal tools. The company has reported fall in its healthcare and lighting divisions.
Philips, the Netherlands-based consumer electronics firm, said on Tuesday that it has finally decided to sell an 80.1% stake in the lighting components division for $2.8 billion to Go Scale Capital.
Go Scale Capital is a new investment fund that focuses on LEDs and electric car battery technology.
Amsterdam-headquartered company said that the deal values the subsidiary, which comprises an automotive light unit and Philips' 'Lumileds' LED business, at $3.3 billion in cash and debt.
This division of the company reported a profit of nearly 141 million euros in 2014 on sales of 1.42 billion.
Go Scale, which also has other investments in LEDs and electric car battery technology, said in a statement that it aims at expanding the businesses of using LEDs in cars.
New Delhi, May 28 : Consumer durables manufacturer Philips Wednesday re-entered the Indian mobile phone market after a gap of two years, launching four devices ranging from a basic feature phone to an android-based smart mobile phone priced between Rs. 1,960 and Rs. 20,650.
"We are entering into the market again with a whole range of feature and smart phones that we believe serves all the categories of clients. We will be launching two new phones by next month that will take our range to about Rs. 35,000," S. S. Bassi, country manager India, Overseas Sales, Shenzhen Sangfei.
Bangalore, April 3 : The India arm of the $32 billion healthcare and well-being giant Royal Philips Thursday unveiled six innovations in areas ranging from miniature ultrasound system and remote critical care to air purification and lighting that have all been developed within the country for global markets.
London, Dec 07 : Samsung and Philips were recently raided by the European Commission inspectors, including several other consumer electronics companies, over restricting online sales.
The Commission said that the raid was conducted as it believed these firms had planned to restrict online availability of some products in a bid to curb competition violating the EU antitrust rules that prohibit anticompetitive agreements, the BBC reports.
According to the report, the commission was concerned as restricting supply could lead to higher consumer prices or the unavailability of products through certain online sales channels.
New Delhi, Nov 7 : Philips Thursday announced expansion of its research and development facilities for lighting in India and said it targets to further consolidate its leadership position in the Asia's third largest economy.
Addressing a media conference here chief executive officer of Philips Lighting Eric Rondolat said Philips controls more than 30 percent share of India's lighting market.
Rondolat said continued investment in innovation would help Philips maintain its leadership position in Indian lighting business.
Bangalore, June 27 : In order to provide better solutions to reduce infant mortality, Philips Electronics India Thursday launched a suite of healthcare solutions products.
"India loses over three lakh babies every year. Many of these are premature and low birth weight infants who are exposed to hypothermia," Wido Manhardt of Philips Innovation Centre said here.
"The Philips Efficia range of infant warmers and incubators are intended to reduce infant mortality which is much needed in India," Menhardt said while launching the products.
Phillips has released its first set top box for the Freeview+ HD format.
The Dutch electronics firm also plans to incorporate a personal video recorder which will be exclusively made by the firm's parent company, the Pace.
This Philips HDT8520 model comes with a 500 GB hard disk, which boasts a storage capacity of 125 hours of high definition content or in other words 250 hours worth of standard definition content.
Global leader in electronic appliances Philips has announced that it is going to focus to other sections in India. It has said that it is going to focus its research and innovation in healthcare and lighting.
According to sources, the leading consumer durable company of Netherlands, Philips Electronics has signed a licensing pact with Videocon. Philips wants to enter the production and sales of television in India. The Dutch company is keen on improving its profitability in the business.
Philips has unveiled a new 9704 LED Pro line of televisions, company’s first product with upgraded version of LED technology.
The company claimed that anyone who is concerned about his electricity bills should choose the new 9704 LED Pro as it uses 50 per cent less power than a normal LCD TV.
Important features of the 9704 LED Pro include 200Hz technology, Perfect Pixel HD, Perfect Colour, Perfect Natural Motion system, and Colour Booster technology.
It is integrated with 802.11g Wi-Fi that allows its users to access Philips' Net TV services.
Moser Baer India, a leading global technology company, has announced settlement of its long-drawn licensing and patent dispute with Philips.
Today, both companies have entered into a confidential settlement agreement ending a series of disputes in multiple jurisdictions pertaining to recordable CDs and DVDs. The settlement reached provides resolution of all claims and counterclaims without any admission of liability or wrongdoing by either party.