Philips is considering focusing on more local production to counterbalance global strains on trade, CEO Frans van Houten said in an explanation of the company's quarterly figures. For example, by making products in China itself, the tech company can circumvent expensive tariffs, ANP reports.
Queen Maxima and Prime Minister Mark Rutte will head the Dutch delegation to the World Economic Forum in Davos, Switzerland. The theme for this 48th edition of the WEF, taking place from Tuesday to Thursday, is 'Creating a Shared Future in a Fractured World'.
Other cabinet members taking part in the forum are Minister Halbe Zijlstra of Foreign Affairs, Minister Sigrid Kaag of Foreign Trade and Development Cooperation, Minister Wopke Hoekstra of Finance, and Minister Bruno Bruins of Medical Care and Sport.
Philips is acquiring American company Spectranetics for 1.9 billion euros, the Dutch company announced on Wednesday. Spectranetics is a leader in developing innovative methods for vascular surgery and with this acquisition, Philips is gaining technology that closely matches its own range of technologies for surgeries using imaging equipment, according to the Dutch health technology company.
Philips expects better results in the coming months, but is still concerned about turmoil in the financial markets, the technology company said on Monday with the presentation of its quarterly results. I the previous quarter Philips turnover amounted to 5.86 billion euros, a 2 percent decrease to the same quarter last year
Philips Lighting shares will be selling for 20 euros each, the company announced. A total of about 37.5 million shares are hitting the stock exchange in Amsterdam today
Philips' Lighting division is heading to the stock exchange in Amsterdam, the electronics company announced on Tuesday. Philips wants to give its complete attention to health technology and is therefore splitting from the lighting division
Not a single CEO of the Dutch AEX companies uses Twitter.
Dutch electronics giant Philips today announced that they will be streamlining the 120-year-old company, separating its healthcare-lifestyle sector from its historic lighting division. While both companies will continue to use the Philips brand name, the move will incur annual restructuring costs of around 50 million euros and bring potential job losses.