Philips Electronics Takes $750 Mln Charge
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Philips Electronics said it will  write off $753 million for its healthcare unit MedQuist,  leaving analysts wondering if Philips will need to restate its  earnings.
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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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LONDON (CBS.MW) - Philips Electronics, the largest consumer electronics maker in Europe, on Tuesday cautioned it expects flat sales in its semiconductor business in the fourth quarter and is seeing ongoing margin pressure in consumer electronics.
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Philips is preparing a digital video recording system called Personal TV Channel, which could be seen as a competitor to TiVo. The cost of the service will be offset by its advertising features, which allow commercials in programs to be replaced by ones more relevant to what a consumer may be interested in.
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Philips Electronics   said on Monday it had completed the sale of 800 million shares  in Taiwan Semiconductor Manufacturing Company (2330.TW) valued  at about $1.5 billion.
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The semiconductor unit of Philips Electronics is adopting a new name, NXP, and a new strategy to supply chips to the advanced electronics products market.
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Philips Electronics NV is to buy U.S.  medical products company Respironics Inc for 3.6 billion euros  ($5.2 billion), its biggest ever acquisition, as it expands in  the fast-growing healthcare sector.
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High-level executives from Japan's Sharp   Corp. 6753.T traveled to South Korea last week to visit   LG.Philips LCD Co. Ltd. 034220.KS, as Philips PHG.AS seeks   a buyer for its 32.9 percent stake in the Korean LCD firm,   Taiwan media reported on Friday.
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The deal is valued at about $100 million, but the handset maker will be billed based on actual service consumption.
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Dutch Philips Electronics on Tuesday sounded a cautious note on its chip unit as it reported a third-quarter operating profit of 1.02 billion euros, which just exceeded expectations when excluding a 635 million euros non-tax gain.
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Dutch electronics giant Philips has launched a healthcare business group to support a 80-million-euro (980.9-million-dollar) global marketing campaign focused on simplicity, Philips chairman Gerard Kleisterlee said Monday.
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Philips Electronics  said on Monday it had completed the sale of 800 million shares in Taiwan Semiconductor Manufacturing Company  valued at about $1.5 billion.
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A probe into price fixing of LCD displays is expanding, according to press reports on Tuesday. Three countries are investigating the actions of companies that include: LG.Philips, Samsung, Sharp, and a joint venture between Seiko Epson and Sharp.
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TechWeb - The maker, LG.Philips, will also show an 84-inch LCD screen at the Consumer Electronics Show next week.
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Philips Electronics announced Friday that it would launch a friendly cash takeover bid for US medical equipment company Respironics, valuing it at 5.1 billion dollars (3.6 billion euros).
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Philips plans to buy U.S. home  medical equipment maker Respironics Inc for $5.1 billion, its  largest deal to date in an aggressive expansion in the  fast-growing healthcare sector.
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Shares in LG.Philips LCD Co Ltd  (034220.KS) surged on Friday on market talk Japan's Matsushita  Electric Industrial was buying a stake in the South Korean flat  screen maker, but both firms poured cold water on the talk.