Disappointment for Philips: 2014 – a bad year

The year 2014 was a bad year for Philips. The net profit, in comparison with 2013, was a third. Philips’ net profit in 2013 was 1.2 billion Euros. This year the net profit was 411 Million Euros.

The status is testing in almost all divisions of Philips. The only part of the company which is still doing well is Consumer Lifestyle. Their sales, in the fourth quarter of last year, have gone up by 6 percent.

Philips is presently still one company; however, this is going to change in the coming years. Philips top executive, Frans van Houten, has stated earlier this year that Healthcare and Consumer Lifestyle are going to merge and become Health Tech and that Lighting will become an independent entity. Thereby, resulting in two companies.

Source: Studio040

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