Philips

Dutch consumer electronics and medical equipment maker Philips said Monday it is cutting 6,000 jobs worldwide over the next two years as it revealed a net loss of 1.6 billion euros (USD 1.7 billion) in 2022, down from a net profit of 3.3 billion euros last year. The job losses come on top of a reduction of 4,000 staff the company announced in October. The company, which has its headquarters in Amsterdam, is reeling from a worldwide recall of sleep apnea machines and economic headwinds including COVID-related issues in China and the war in Ukraine. CEO Roy Jakobs said 2022 was a very difficult year for Philips and our stakeholders, and we are taking firm actions to improve our execution and step up performance with urgency. He said the job cuts will significantly reduce costs and make Philips a leaner and more focused organisation.

Named Philips TAH8506BK, the headphones are priced at Rs 10,999. It will be available for purchase on Amazon India

Philips TAB8947 3.1.2 and Philips TAB7807 3.1 CH Dolby Atmos Soundbars will be available at Rs 35,990 and Rs 28,990 across leading online platforms and offline stores in the country

The device must clean up particulate matter, allergens and ultra-fine dust particles

The job cut represents over five per cent of the company's work force

The addition of mop accessory gives the Philips SpeedPro Aqua an advantage over peers because most cordless cleaners make do with vacuum function alone

Germany, which was earlier India's top European export destination (eighth position), has now dropped two ranks to 10th place

Philips on Wednesday said it expected fourth-quarter core profit to drop around 40% to about 650 million euros ($739.25 million)

Business Standard lists five interesting devices launched in India this year

The Philips Fresh Air Mask is a one-of-its-kind face mask with a built-in fan to help tide over the feeling of breathlessness, which many face while wearing conventional face masks for extended hours

The group also announced a 1.5 billion euro share buyback set to start in the third quarter and take up to three years.

Philips invited Chinese buyout firm CDH Investments and domestic appliance maker TCL Technology Group Corp. to lodge second-round offers,

Under an agreement, TPV has global licensing rights to manufacture and sell Philips branded TV and audio

The factory in Glemsford, Suffolk, produces babycare products, mainly for export to other European countries

India will be the third biggest TV market in the world with sales growing at an average 11 per cent over the next three years

Riding on the high brand value of Philips among the Indian consumers, TPV Technology is aiming to be among the top 5 brands here in the TV segment and capture a market share of 6 to 8% by Dec 2020

The announcement was made as Philips launched the latest range of Philips Trimmers BT 3000 Series

Here's why India is important for Philips' transformation from a consumer company to a health-tech major

The Dutch firm is moving more aggressively to bolster its growing health care business

Net profit soared to $281 million in the first 3 months of 2017