Philips LED sales growing at 21%

Philips’ sales of LED engines and luminaires are growing at 21 per cent, the latest figures show.

Disappointed: van Houten

Overall, the Philips lighting business is growing at 4 per cent, the results for April, May and June show.
Philips chief Frans van Houten said the results were lower than expected. ‘Lighting results in the quarter were disappointing,’ he told the Press. ‘We are addressing our operational issues, while investing for growth.’
The company has rolled out a comprehensive performance improvement programme, which includes a cost reduction plan which has a target to cut £450 million of costs across the entire Philips portfolio.

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