Philips posts fourth-quarter loss as Europe's economy falters
“We are cautious about 2012, given the uncertainty in the global economy, and Europe in particular,” chief executive officer Frans van Houten said on Monday.
“Our fourth-quarter results were impacted by weak European sales, postponement in deliveries of existing orders in our health care sector, and inventory correction actions and other operational issues in our lighting business.”
Philips said it was committed to its 2013 goals and underlying margins would improve in the latter part of 2012, but analysts including S&P Equity Research’s James Crawshaw were skeptical of next year’s targets and said the second half improvement was at risk from challenges in the lighting division as the industry moves to light-emitting diodes (LED).
“We anticipate ongoing losses at the components arm, Lumileds, and rising competition in the LED lighting market from Korean and Chinese vendors,” Mr. Crawshaw said.

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The judgment is based on two cases referred to the European Court of Justice (ECJ) from national courts based on cases involving Philips NV (PHG) and Nokia Corp. (NOK) relating to electric shavers and mobile phones respectively which were taken by



