Philips has adjusted its profit expectations for 2025 due to American import tariffs. The Eindhoven-based company anticipates losing between 250 and 300 million euros. In the first quarter of 2025, Philips did report a profit again.
Compared to a year earlier, it generated 154 million euros from business operations, resulting in a profit of 72 million euros. The previous year, however, the company had incurred a small billion euros in losses as it had to set aside money to settle the sleep apnea issue.
That issue is not entirely resolved yet, as the US Department of Justice has opened an investigation into Philips’ actions.
Tariffs
However, the company seems to have weathered the biggest financial blow. The economic policy being pursued in the US is, therefore, unfavourable for the company. Philips has indicated that it expects to lose 250 to 300 million euros due to increased import tariffs in the US.
Additionally, Philips is facing poor sales figures in China, where significantly fewer products were sold than initially estimated.
Source: Studio040.nl
Translated by: Kirti Singh
