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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (60142)	2/7/2002 3:34:06 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Philips losses soar Thursday, 7 February, 2002, 07:02 GMT news.bbc.co.uk Philips has never lost this much money before Europe's biggest consumer electronics and lighting company, Philips Electronics, lost 2.6bn euro last year, a sharp turn-around from its 9.6bn euro profits in 2000. The losses were larger than analysts' expectations. They had ignored Philips' own predictions of 600m euro losses and predicted that the losses would be 2.3bn. Philips, which is also the world's third largest semiconductor maker, saw sales fall 15% during 2001 to 32.2bn euro. Looking ahead, the company predicts further weakness, though the worst could be over in the IT and telecoms markets. More soon.