Jan 28, 2020

Philips to sell unit as it focuses on healthcare

Royal Philips has said it is weighing the sale of its domestic appliances arm as the Dutch conglomerate seeks to focus on the healthcare sector. Over the past decade it has homed in on the healthcare sector, marketing equipment and services. The group on Tuesday reported overall sales of €19.5bn for 2019, up 4 per cent from the previous year on strong demand from China. Profit margins rose 0.1 percentage points to 13.2 per cent of sales, falling short of the company's target "Due to headwinds". Get alerts on Royal Philips NV when a new story is published.

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