Philips has more than doubled its net profit for the third quarter following the sale of its television business. The company officially disposed of the loss-making venture in April, selling a majority stake to TPV. While the Hong Kong-based company has been busy trying to turn the brand around, Philips has seen earnings increase thanks to growth in the medical imagery and LED light bulb sectors. As a result, net income rose to €170 million, up from €76 million on the same period last year.
Getting rid of the TV division looks to have been a good start
In fact, sales of LED bulbs rose by 51 percent, with double-digit growth also seen in the personal care, health and wellness, and domestic appliance arms of the business. Any further...
via The Verge - All Posts http://www.theverge.com/2012/10/22/3537628/philips-q3-2012-earnings
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