Dutch electronics giant Philips has warned that its fourth quarter pro ts will be worse than expected
Philips has yet to release full figures, but it said free cash flow would be £826m. It was £991m last year.
Philips said the problems in the struggling European market meant it could not charge customers as much as it would have liked for lamps, leading to the drop in profits.
Chief executive Frans van Houten said: ‘We have taken measures to address our inventory situation in the lighting business.’
26 July 2011
Philips has announced a new lumen package for the Lexel LED DLM, extending the output from 1,100 to 2,000 lumens, delivering improved possibilities in creating a variety of atmospheres with thousands of shades of white light and colours from a single source.
28 May 2012
Lighting components supplier Prime Light Electrical has acquired Telford-based rival Arlen EFA, one of the few suppliers of electronic starters.