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.
A federal court in the United States banned Philips from selling some of its medical devices, including defibrillators, until further notice. This ruling applies to the Philips factory in Andover and company managers Carla Kriwet and Ojas Buch. The ban will remain in effect until Philips makes improvements, Reuters reports.
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.
The United States' Food and Drug Administration FDA recalled 47,362 Philips defibrillators because they may pose serious risks that may result in injury or even death, Financieele Dagblad reported on Wednesday. This is not actually a recall, only a warning of a minor problem with two defibrilators, a spokesperson for Philips said to the Telegraaf.
Philips is at loggerheads with American authorities over the production of defibrillators - FDA inspections revealed a number of shortcomings, according to ANP. The company is in talks with the U.S. department of Justice, acting on behalf of the FDA, on the matter. The company's value dropped by 4 percent after this was revealed on Tuesday morning.
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 is set to hit the Euronext Amsterdam exchange on May 27th, if all goes well. The lighting division will be valued at between 2.78 billion euros and 3.38 billion euros, with shares costing between 18.50 and 22.50 euros
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
PSV Eindhoven is planning to experiment with the possibilities offered by the new LED lighting from Philips. The football team hopes to use the lighting to put spotlights on individual players, on the penalty area when there is a penalty and show the way to food stands with the shortest queues.
A reportedly dire situation at the Dutch branch of KPMG is prompting the firm to seek assistance in reorganization from its international office, writes De Telegraaf. The company is facing a decreasing market share and profit margins and a departure of some of its key partners.
The digitization of the new economy is resulting in rapidly changing job opportunities for holiday workers. While holiday workers are still employed in traditional summer jobs such as bartenders and waiters, they are more and more also being employed in positions that didn't even exist 10 years ago.
Philips and Amsterdam Medical Center (AMC) announced they're collaboration in a clinical study of a new, minimally invasive treatment for diabetic foot and critical limb ischemia (CLI) last week. At the moment, there is no diagnostic method to immediately evaluate the result of an angioplasty - the currently preferred treatment option to restore blood circulation in a foot.
Pearltect has won the 10th Philips Innovation Award for a self-defense bracelet intended to protect women from sexual abuse, Philips announced on the award's Facebook page.
In the first quarter of 2015, the market value of Dutch companies listed on Amsterdam's stock exchange, Euronext Amsterdam, rose to 735 billion Euros, reports the Dutch Central Bank (DNB). Compared to the previous quarter, it grew by 101 billion. This is the largest absolute increase since the last quarter of 1999.
A former purchaser of Philips grow lamps, who used them to improve cannabis production, is suing the company for preventing him from buying their products, reports broadcaster NOS. Philips stopped supplying the lamps to the entrepreneur because it did not want to be involved with production of cannabis.
After 34 years as a lead advertiser at PSV Eindhoven, Philips is ending their shirt sponsorship of the 2015 Dutch champions. The electronics giant is the longest-running sponsor of a football club's uniform to date.
Philips has sold a major part of its stake in LED and automotive lighting to the Chinese-American investment Go Scale Capital, a consortium of investors. The sale is expected to close in the third quarter and will bring in approximately 2.7 billion euros for Philips.
Technology company Philips and Belgian pharmaceutical company Janssen Pharmaceutica have joined forces to come up with a more efficient way to test blood levels of patients with brain disease, Omroep Brabant reports.
The Rotterdam Radio Museum is organizing an exhibition showing what World War II era radios and electronics were used in the Netherlands to keep contact with the Allies. The exhibition showcases illegal devices, military radios, common receivers and Morse transmitters specifically obtained for the display, the museum said.
Dutch electronics group Philips is planning an initial public offering of its lighting business in 2016, reports Wall Street Journal. This follows the announcement made in September about the company splitting into two and spinning off its lighting branch.
Some of Philips' small foreign partner companies stole a total of about 20 million euros from the Dutch technology company by committing large-scale corporate fraud, De Telegraaf reports based on research from the Financieele Dagblad.
In the fourth quarter of 2014, Philips' profit decreased by two thirds. The electronic company from Eindhoven suffered from disappointing sales in the healthcare market and in China and Russia. This is evident from figures that Philips published today.
According to Secretary of State Mansveld (Infrastructure and Environment), companies, governments and civil society organizations have taken an important step on the way to the climate summit in Paris next year.