Tuesday, 28 January 2014

Emerging market turmoil deals setback for Philips


Van Houten, CEO of Philips, speaks during the presentation of the 2013 full-year results in Amsterdam By Sara Webb AMSTERDAM (Reuters) - Philips forecast a slow start to 2014 as it grapples with currency volatility in Turkey, Argentina, Indonesia and other emerging markets and weak orders for healthcare equipment. The turmoil in developing economies is a setback for the Dutch healthcare, lighting and consumer appliances company, which has reinvented itself since Frans van Houten took over as chief executive in April 2011. Philips had suffered from its exposure to stagnant or austerity-hit markets in Europe and the United States, while its TV, audio and video business had struggled for years to compete with low-cost Asian rivals. Van Houten has cut costs, sold weak businesses and targeted new products at emerging markets, sending Philips shares up nearly 60 percent in two years.








via Health News Headlines - Yahoo News Read More Here..


Lake forest health and fitness http://ift.tt/1f8jPMM

No comments:

Post a Comment