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Philips profits plunge 32.9% in second quarter

Dutch electronics giant hit mainly by the costs of spinning off its lighting business last year
Tuesday, July 25, 2017 - 05:50

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Philips was once best known for manufacturing home electronics but now focuses on health technology.

The Hague

DUTCH electronics giant Philips Monday posted a 32.9 per cent fall in second-quarter profits, hit mainly by the costs of spinning off its lighting business last year.

Net income dropped to 289 million euros (S$458 million) from 431 million euros over the same period in

sentifi.com

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