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

To: John Rieman who wrote (28782)	1/27/1998 12:38:00 PM
From: DiViT	Respond to of 50808

Philips..................................... --------------------------------------- My intuition keeps telling me there's something here for us. I just can't figure out what it is. Perhaps it's nothing but keep your eyes and ears open... --------------------------------------- Audio Week Warren Publishing, Inc. (Copyright 1998 by Warren Publishing, Inc.) ÿ Philips has "significantly reduced" losses in its U.S. CE division and is on verge of "coming through to profitability," Douglas Dunn, worldwide head of Philips consumer electronics operations, told reporters at Las Vegas CES. While analysts had pegged Philips CE losses at $30 million annually, Dunn said they currently are "a lot less than" $10 million. Analysts said he has projected breakeven for U.S. operations this year. In part, cost-cutting measures have helped stem losses. Among them were selling Greeneville, Tenn., TV assembly plant and reducing number of retailers handled by direct sales staff. But Dunn also said that achieving profitability isn't done through cost-cutting, but rather "having the right product for the marketplace and positioning it correctly." Philips will spend about same amount this year as it did in 1997 on ads to promote product roster that has expanded to include digital cameras, DVD , handheld PCs, plasma display panels (PDPs), WebTV. " DVD is no longer unique because we've got an avalanche of other products and now it's up there with 6 to 7 others," Dunn said. Industry sold 700,000 DVD players in 1997, including 300,000 in U.S. and 200,000 in Japan, he said. On brand front, Philips confirmed that "Philips Magnavox" logo may split as soon as this year with Philips targeting step-up and digital products, Magnavox aimed at mass market. Despite some reported interest, Philips said it won't sell Magnavox brand. Analysts said that brand could fetch $100-$200 million and that several companies had expressed interest. "The Magnavox name isn't for sale yet," said Philips Consumer Electronics U.S. Pres.-CEO Robert Minkhorst. "But for the right price, everything is for sale."