Philips parts ways with CEO in midst of massive recall
Dutch health technology company Philips (PHG.AS) on Tuesday unexpectedly announced the imminent departure of CEO Frans van Houten, in the midst of a massive product recall that has halved its market value over the past year.
Philips expects summer recovery from supply chain woes
Dutch health technology company Philips (PHG.AS) said on Monday it expects sales to recover strongly in the second half of the year, while a steep decline due to global shortage of parts is likely to persist in the coming months.
Philips shares slide as shortages and recall hit profits
Philips shares (PHG.AS) plunged more than 11% on Wednesday morning after the Dutch health technology company hiked the cost of its massive recall of ventilators and said earnings would take a big hit from global supply chain shortages
Marketmind: What could possibly go wrong?
Optimism for the third quarter earnings season has provided a timely boost for equity markets, which flirted with correction territory in September.
Chips and ships: Philips cuts outlook as supply chain problems grow
Dutch health technology company Philips (PHG.AS) on Monday cut its outlook for sales and profit growth this year and said the global supply chain problems that added to its growing list of worries in the third quarter would likely intensify.
Philips beats earnings forecast as it mobilises for respiratory device recall
Dutch health technology company Philips (PHG.AS) on Monday beat analysts’ expectations with a jump in second-quarter core earnings to 532 million euros ($626 million), boosted by its personal health and diagnosis businesses.
