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Philips predicts a challenging 2007 for LCD TV makers

January 23rd, 2007 · No Comments

Philips Q4 financials reflect the tough trading experienced by many CE giants, but reveal that its restructuring to a more brand-driven company have paid dividends. Philips net profit was up 2 percent, at 8,128 million Euros, but consumer electronics sales were down year-on–year. Operating margins, however, were up.
President and CEO Gerard Kleisterlee says, “Our consumer electronics division was able to post a full-year EBIT (Earnings Before Interest and Tax) margin of 3.9 percent, amid tough market conditions. This again shows the robustness of our CE model.” The company says an oversupply of LCD screens will lead to a “challenging’ 2007”, adding “it’s clear that we are entering a new period in the company’s history.”

Tags: LCD TV · Trade

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