Philips stays calm

Philips is predicting a strong end to the year despite suffering an 11% slump in consumer electronics sales during Q2.

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By  Administrator Published  August 2, 2007

Philips is predicting a strong end to the year despite suffering an 11% slump in consumer electronics sales during Q2.

The firm was unable to match the high sell-in it saw ahead of last year's FIFA World Cup, resulting in a dip in revenues to US$2.95 billion.

However, Europe's largest electronics vendor believes a series of new product launches will see second half sales exceed last year's level.

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