Philips conference call
was interesting, Philips in the middle of restructuring
from plain HiFi, personal hygiene (Brand), kitchen
equipment to "high tech", growth,etc. (as well as
inventing the c-casette, the CD-player,etc, even GSM)
That is, a lot of footprint in the consumer business, now
turning more and more "digital" (audio, video, set top
boxes, even shavers?) and with fabs making components.
Hints that the drop in december,etc might be a question of
(their) components, inventory for some 40 million phones(?),
but the semiconductor business will grow according to plans.
(who sits on those old parts??)
2000 was the year of "order any component you can
possible get.." (for some??)
Especially their "major customers", (60% (80??) of
phones have at least one Philips component) are
on line with orders. (couple of refs to "that fire")
Closer partnership 2001 with "these major customer", only way
to run this business.
Semiconductor business looks better than other PH businesses
for 2001, but old components are old (generation)
components.
Same as for TI, "nice try" on questions on how much
their (one) major customer have allocated and ordered for 2001.
Owns share of some contract manufacturers... (where is that
surplus inventory..??)
Last week in december was crucial, first weeks 2001 also.
Second half should offset the present "delayed demand"
Did not agree to speculate on US hard or soft landing.
Higher price "erosion" on components something they are used
to and (obviously) plan for.
etc,etc
above just from memory
CC now available as archived:
philips.com
Ilmarinen.
PS Q1 15% less than Q4 but 15% more than last year for semis. (philips, if anyone, should be used to Q4-Q1
xmas-not-xmas sales)
Btw,Ala-Pietila pointed to operator campaigns, obviously
the driving force for still bundled markets. |
