"The decline of the order intake was very disappointing," says analyst Jos Versteeg referring to...

|By:, SA News Editor

"The decline of the order intake was very disappointing," says analyst Jos Versteeg referring to weakness in Philips' (PHG) healthcare unit which the company says should still experience 3-4% growth for the full year (Q1 results). When asked on the call how confident the company is about delivering on that prediction, CEO Frans van Houten says "more traction in Northern Europe" and "increased orders on the government side" in the U.S. make him absolutely confident in the healthcare unit's "resiliency" in the eurozone and positioning in the U.S. once "the dust settles" on healthcare reform. (transcript)