Philips lowers forecast for chip division
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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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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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Swiss Re led European shares lower on Friday, but Dutch conglomerate Philips helped limit market losses as a chip sales warning was not as bad as feared.
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A spokesman for Netherlands&#39;electronics company Philips denies an earlier report that Philips will withdraw from the domestic appliances market and transform itself into a manufacturer
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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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Intel Corp., the world&#39;s largest maker of computer chips and a major employer in Folsom, has reportedly dropped plans to develop a chip for projection TVs, the latest in a series of product shifts by the Santa Clara company.
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Analysts lower revenue projections for contract chip makers to 5.1 percent.
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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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Sony Corp.  will cut back on future chip spending and may not produce advanced chips used in its PlayStation 3 (PS3) in-house, a senior executive said on Tuesday, in a move aimed at driving the semiconductor unit's nascent earnings recovery.
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Micron Technology Inc.  on Friday forecast that prices for memory chips used in consumer electronics would be down 30 percent to 40 percent this quarter from the previous one.
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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, a medical transcription company.
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Europe's top consumer electronics group Philips cut the forecast for its closely watched chip unit on Friday and predicted a significant slowdown for the semiconductor industry next year.
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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 Electronics, Europe&#39;s largest consumer electronics company, lowered its sales forecast for its semiconductor division, representing the latest sign that the sector is suffering a slowdown after a long period of rapid growth.
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EINDHOVEN, Netherlands  - Philips Electronics said  on Tuesday it expected a flat global chip market next year, in  line with market research forecasts but more cautious than many  of its rivals.
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Royal Philips Electronics continued its withdrawal from non-core stakes on Friday by slashing its stake in Atos Origin by more than half.
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Europe's top consumer electronics  group Philips PHG.AS cut the sales forecast for its  closely-watched chip unit on Friday and predicted much smaller  growth for the semiconductor industry next year.