Apr. 21, 2014, 5:30 PM
Apr. 3, 2014, 2:33 PM
- With intense price competition for regular LED bulbs acting as a dual-edged sword - it's growing the addressable market, but also pressuring margins - Cree (CREE -1%), Philips (PHG -0.2%) and other vendors are ramping investments in smart bulbs and/or systems that support features such as on/off timing, automatic dimming, and smartphone/tablet control.
- Philips recently expanded its Hue connected bulb product line (includes iOS/Android controller apps) to include a white-only bulb (the Hue Lux) and a wireless wall switch (the Hue tap). Cree has rolled out SmartCast, a wireless commercial lighting system that emphasizes ease of use and low management costs.
- Provided consumers and businesses buy in, Cirrus Logic (CRUS +1.2%) and Marvell (MRVL -1.4%) could benefit. Cirrus sells driver ICs for smart LED bulbs; Marvell offers driver ICs, controller ICs, and related software.
- Previous: Light quality helps LED bulb sales grow in spite of high prices
Jan. 28, 2014, 2:59 AM
- Philips (PHG) swung to a net profit of €412M in Q4 from a loss of €423M a year earlier, when its results were hurt by various one-time charges. The latest Q4 figure missed forecasts of €455M.
- Adjusted EBITA climbed 20% to €915M ($1.3B), topping consensus of €874M.
- Sales edged up 1% to €6.8B, below expectations of €6.84B.
- Philips warned that it remains cautious for 2014, due to macroeconomic uncertainties, currency fluctuations and weak Q4 orders.
- Healthcare bookings -1%, due to uncertainty over U.S. healthcare reforms and European austerity.
- Demand in China again surpassed management targets, helped by sales of air purifiers, rice cookers and shavers.
- Proposes dividend of €0.80 ($1.10) per share. (PR)
Jan. 28, 2014, 12:05 AM
Jan. 27, 2014, 5:30 PM
Dec. 24, 2013, 7:16 AM
- Philips (PHG) is investigating claims that it violated the U.S. Magnitsky Act by selling ultrasound machines and CAT scanners to RT-Medintegrator, a company headed by a Russian official who is named in the legislation.
- The Act sanctions officials who are thought to be responsible for the death of Russian lawyer Sergei Magnitsky, who worked for U.S. investment fund Hermitage Capital.
Dec. 6, 2013, 2:32 PM
- The E.C. has raided Philips (PHG +2.1%) and Samsung's (SSNLF, SSNGY) local offices, as well as those of electronics store chain Media-Saturn.
- The Commission says it has raided several companies who are either making or selling consumer electronics and domestic appliances, in order to probe whether the firms had conspired to drive up prices by limiting the online sale of certain goods.
- The E.C. is already probing Samsung's use of standards-essential mobile patents in its legal battles. Samsung made a settlement offer in October.
Oct. 27, 2013, 4:07 AM
- H-P (HPQ) has sued manufacturers of optical disk drives for allegedly conspiring to fix the price of their products from 2004-2010.
- The defendants, which control 90% of the market, include Toshiba (TOSBF), Samsung (SSNLF), Sony (SNE), Panasonic (PCRFY) and Philips (PHG).
- The suits follows a long probe by the Department of Justice into price-fixing and bid-rigging. Hitachi-LG Data Storage (LGEIY), another of the defendants, and four of its executives have pleaded guilty to breaches of antitrust law, while the DOJ named H-P as a victim.
- H-P, which purchased billions of dollars of drives, is seeking unspecified triple damages and injunctive relief.
Oct. 21, 2013, 9:15 AM
Oct. 21, 2013, 2:10 AM
- Philips (PHG) Q3 net profit jumped over 140% to €281M, slaying forecasts of €209M, with growing health-care orders in China offsetting slowing demand in Europe.
- Revenues dropped to €5.62B from €5.82B, missing consensus of €5.77B.
- Adjusted EBITDA €634M vs €476M last year, above expectations of €567M.
- To buy back €1.5B in shares.
- "We remain committed to reaching our financial targets this year. However, ongoing headwinds in the global economy are expected to continue to affect sales growth in the coming quarters," said CEO Frans van Houten. (PR)
Oct. 21, 2013, 12:05 AM
Oct. 20, 2013, 5:30 PM
Sep. 17, 2013, 2:59 AM
- Philips (PHG) has raised its EBITA growth target for 2016 to 11-12% from a previous goal of 10-12%, and the company is aiming for cumulative comparable sales growth of 4-6% a year.
- Philips is also targeting EBITA margins of 9-11% for its lighting division, 16-17% for healthcare and 11-13% for consumer.
- In addition, Philips intends to buy back €1.5B ($2B) worth of stock over the next two-to-three years.
- The increased financial targets represent progress in Philips turnaround program in which it has been slashing jobs and expenses, and focusing on its core activities. (PR)
Sep. 6, 2013, 7:44 PMPhilips Electronics (PHG) gets a late day upgrade at Citigroup to Buy from Sell with a price target of €30. | Comment!
Aug. 30, 2013, 1:50 PM
- Royal Philips Electronics (PHG -0.4%) says it's launched its EPIQ ultrasound system at the 2013 European Society of Cardiology Congress in Amsterdam.
- EPIQ features a new imaging technology called nSIGHT that when combined with Philips' Anatomical Intelligence technology, delivers what the company describes as more speed and image clarity.
Jul. 22, 2013, 2:48 AMMore on Philips (PHG) Q2: Enjoys growth across all three businesses as the company's €1.1B savings program offsets the slowdown in Europe. "The 'Accelerate' transformation program continues to drive performance improvement," says CEO Frans van Houten. Healthcare order intake +7%, boosted by by new product launches and significant customer wins. Van Houten had warned in April of a tough U.S. outlook for the sector. Philips is concerned about "economic uncertainties around the world" but is on track to achieve full-year targets: EBITA margin of 10-12% on revenue growth of 4-6% and return on invested capital of 12-14%. (PR) | Comment!
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