Philips Expects Slower Demand To Hurt Sales

Philips Electronics NV warned that weaker-than-expected demand is hampering growth at its consumer-electronics businesses, potentially signaling concerns for the broader industry.

The Dutch company said the lower demand for its consumer-electronics products and its domestic appliances may have an impact on second-quarter sales. The announcement sparked a decline in Philips shares, which slumped 5.4% to €21.32 each at the close in Amsterdam yesterday.

Source: WSJ


Posted: Wed - June 15, 2005 at 08:09 PM