PHILPS embarrassing performance two quarter net loss of $1 billion 900 million

Yesterday, PHILPS released its 2011 two quarterly show, the recession recovery rate is less than expected and affect the company's assets from the PHILPS second quarter net loss of 1 billion 340 million euros ($1 billion 900 million). At the same time, the company plans to cut 500 million euros (about $703 million) spending.

It is understood that in the second quarter ended June 30th, PHILPS net loss of $1 billion 340 million, the company's net profit for the same period last year was $259 million. In the second quarter, PHILPS's medical sector by the U.S. business performance is poor, PHILPS medical sector asset impairment reached $830 million, affected by the slowdown in growth, PHILPS lighting sector assets impairment of $530 million. PHILPS's second quarter revenue fell to EUR 5 billion 210 million from a year earlier of EUR 5 billion 350 million. Not in accordance with GAAP, PHILPS's second quarter net profit of $370 million, a record low for two years.

The chief executive of PHILPS million haodon said, "in the short term operation of the company, market weakness and major challenges of assets impairment, the second quarter net loss reached 1 billion 340 million euros. "000 haodon said that the performance of the company to get a substantial improvement in the short term will not, but as before the end of 2014, PHILPS will cut 500 million euros to restore growth companies.

In fact, PHILPS's performance in China this year is also very embarrassing, and the basic exit from the color TV industry sales ranking of the top ten. In the first half of this year, PHILPS has turned its TV business into a company that owns 70% of AOC technology holdings in Hongkong, which has followed SIEMENS and other industry giants to reduce spending on consumer electronics.

It is reported that PHILPS plans to announce in 2015 this year, the strategic objectives of the year in October, reflecting the company's major business adjustments, including the withdrawal of TV manufacturing business. By 2013, PHILPS's revenue will grow 4% to $6%, is expected to be not in accordance with GAAP profit margin will reach $12%.