Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : C-Cube -- Ignore unavailable to you. Want to Upgrade?

To: Daveyk who wrote (26876)	12/18/1997 6:10:00 PM
From: BillyG	Read Replies (1) \| Respond to of 50808

Philips to regroup units into one consumer electronics division December 18, 1997 AMSTERDAM, NETHERLANDS - AP World News via Individual Inc. : Dutch electronics giant Philips on Wednesday unveiled part of its long-term plans for a sweeping reform of its electronics operations. - The company will regroup its so-called high volume electronics operations, including Sound and Vision, Business Electronics and Consumer Communications units, into a new division called Consumer Electronics from Jan. 1. - The new group will focus on meeting consumer needs better, coupled to a clear emphasis on growth and shareholder value, said Jan Oosterveld, senior director of corporate strategy in Philips' internal magazine Mondial. - Oosterveld said the group is targeting market share of 10 percent. - ''Philips is like a big hungry animal that needs feeding more and more. If we don't do this, we'll have constant restructuring which is unpleasant and costly,'' Oosterveld said. - One of the main reasons behind the move is that high volume electronics can no longer be treated as a separate segment, said Oosterveld. - The other Business Electronics, including industrial electronics and machine factories, will be grouped together under new management, Oosterveld said. - A much-heralded long-term strategy for the entire company will not be announced until early 1998. No decision about the group's product portfolio is expected before that date. [Copyright 1997, Associated Press]