Shulou(Shulou.com)11/24 Report--

CTOnews.com July 24, the Dutch technology company Philips today announced a slight increase in its full-year revenue forecast due to improved supply chain and growing demand in the Chinese market. Philips said it expected annual sales to grow in the middle digits, higher than previously expected in low digits.

▲ Touyuan Pexels Philips, which currently focuses on medical technology, previously reported adjusted earnings before interest, tax and amortisation (EBITA) of 453 million euros (CTOnews.com Note: currently about 3.629 billion yuan) in the second quarter (April-June), up from outside expectations of 394 million euros (currently about 3.156 billion yuan).

Sales and profits have been boosted by double-digit growth in China and previous massive layoffs of 10000 people, Philips's current CEO, Roy Jacobs (Roy Jacobs), who took office last October, said in an interview with Bloomberg.

Since the recall of millions of respirators used to treat sleep apnea was announced in June 2021, Philips has been grappling with the impact of the global recall. 575 million euros (currently about 4.606 billion yuan) has been set aside to sue patients who claim to have suffered financial losses as a result of the use of these devices. Roy also said that dealing with the incident is still a top priority for Philips.

Despite better-than-expected second-quarter earnings, Philips's orders fell 8 per cent year-on-year, sending its shares down 7.7 per cent on the Amsterdam exchange, the biggest drop since October.

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