Philips, Global Business Proxy, Falters
Royal Dutch Philips is one of the largest companies in Europe and produces and sells a very broad array of products. That makes it a reasonable proxy for the global economy, much the way that GE or Siemens are Philips…
Royal Dutch Philips is one of the largest companies in Europe and produces and sells a very broad array of products. That makes it a reasonable proxy for the global economy, much the way that GE or Siemens are
Philips announced that it lost $1.3 billion last year. Some of the trouble was due to a slowdown of the EU economies. Philips is a large presence across many electronics product which include items as cheap as light bulbs and as expensive as high end medical products.
Management also said it is worried about the first half of this year. Add that to what a number of other large multinationals have said.
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