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TV results cast cloud over Philips

April 15th, 2008 · No Comments

Phillips says that difficult trading conditions surrounding its TV business are to blame for a 28 per cent fall in profits. In a statement about its poor past quarter performance, Gerard Kleisterlee, president and CEO, confirmed that while results across most of its operations were good, “our results are clouded, more than we like, by the adverse situation in our TV business.”
Philips recently signed up Japanese operator Funai to distribute, market and source all Philips branded TVs for sale in the US and Canada. The move follows a restructure which has seen Philips traditional consumer electronics operation integrated into a wider Consumer Lifestyle division which also includes lighting, domestic appliances and shaving products.

Tags: Corporate · LCD TV · Plasma · Trade

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