Philips cuts outlook for chip-unit sales
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AMSTERDAM, Netherlands (Dow Jones/AP) -- Royal Philips Electronics NV Friday lowered the outlook for its semiconductors division and its industry growth prediction, giving another indication that the sector is experiencing a slowdown due to high inventory
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Philips Electronics NV, the Dutch electronics maker, said Wednesday it will take a &#36;752 million charge in the fourth quarter to reduce the estimated value of its stake in U.S. medical transcription company MedQuist Inc.
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Texas Instruments Inc., the leading maker of chips for cell phones, cut its profit and revenue forecast for the fourth quarter on Monday due to slower sales of semiconductors, and it warned that sales could weaken further early next year.
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Philips sells off its 16.2 percent stake in a Taiwanese semiconductor company that it helped start up.
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Texas Instruments Inc , the world's biggest maker of chips for mobile phones, narrowed its second-quarter revenue and earnings forecast on Monday and said calculator sales would be lower than expected.
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Two days after announcing that the head of its semiconductor business will leave the company, Koninklijke Philips Electronics NV on Friday lowered its forecast for the chip division&#39;s third-quarter sales.
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Royal Philips Electronics, one of Europeâs largest makers of medical equipment and electronics, said it would more than double profit by 2010 as it streamlines the company. The chief executive, Gerard Kleisterlee, left, said the company was also pursuing acquisitions in health care, lighting and consumer lifestyles, with a focus on emerging markets, namely those in Asia. âWe are always in talks,â he said. âThe timing of acquisitions is always unpredictable.â Philips is paring its business units into three sectors, which will save an estimated 150 million euros to 200 million euros ($205 million to $274 million) by 2010, Mr. Kleisterlee said.
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Blog: LCD TV sales dropped a bit in the first quarter from the last three months, and Philips bore the brunt.
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AMSTERDAM Philips Electronics will stop making low-end computer monitors and flat-screen televisions for itself and other brands, the Dutch company said Thursday, turning the business over to the Hong Kong manufacturer TPV Technology.
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Royal Philips Electronics said on Wednesday that it would take a $752 million charge in the fourth quarter to reduce the value of its stake in MedQuist
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By Bangkok Post, Thailand  Sep. 7--Philips Electronics (Thailand) Ltd will transfer all 3,400 of its  semiconductor sales and marketing staff to a newly established company,  Philips Semiconductors SMO, the sales and marketing arm of NXP Semiconductors,  on Oct 1.
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Philips Electronics beat expectations  with strong cash flow and fourth quarter earnings in most units  and unveiled a share buyback, but warned on Thursday that the  world economy made it cautious.
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(InfoWorld) - Koninklijke Philips Electronics has completed the sale of an 80.1 percent stake in its chip division to a group of private investment houses, the company said Saturday. The stake in NXP Semiconductors, theÂ new nameÂ of the chip unit,Â was sold to a groupÂ including Kohlberg Kravis Roberts & Co. (KKR), Silver Lake Partners, and AlpInvest Partners. Philips expects to take in â¬6.4 billion ($8.12 billion) in cash from the sale, after taxes. The European electronics giant will keep a 19.9 percent share of the business. Philips said the deal places the value of NXP at â¬8.3 billion. There have been a number of chip industry deals this year, including aÂ $17.6 billion offer for Freescale SemiconductorÂ last month. In July,Â Intel soldÂ its communications and application processor business to Marvell Technology Group for $600 million, while earlier this year,Â PMC-Sierra acquiredÂ the storage semiconductor business formerly owned by Agilent Technologies for $425 million.
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currently CEO of Philips&#39; consumer electronics business groups -- will succeed the unit&#39;s CEO Scott McGregor. The company is scheduled to hold a Semiconductors and Technology analysts day in Holland on Friday.
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AMSTERDAMâRoyal Philips Electronics NV, Europe&#39;s top consumer electronics group, cut the sales forecast for its closely watched chip unit yesterday and predicted much smaller growth for the semiconductor industry next year.
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Steers clear of crowded market Philips has gone into reverse on plans to enter the market for personal navigation devices because of fears the sector is getting too crowded.â¦
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Texas Instruments Inc. (TXN.N: Quote, Profile, Research) , the largest maker of chips for cell phones, trimmed its third-quarter revenue outlook on Wednesday as customers