Philips to Reduce Value of Stake in MedQuist
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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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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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The electronics giant plans to sell its operations for making microchips used in its PlayStation game console to Toshiba, pulling back from the heavy investment needed.
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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   has quietly dropped its advanced, blinking fluorescent backlights for flat televisions, and will instead focus on LED backlights which are smaller, the Dutch electronics group said on Monday.
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com September 22, 2004, 11:20 AM PT. Royal Philips Electronics announced on Wednesday that the chief of its semiconductor division will step down effective early next year.
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The company's sales fall, pulling down its stock price.
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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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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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Signaling a possible wider slowdown in the semiconductor industry, Royal Philips Electronics on Friday became the latest company to say that sales had begun to stall.
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The Finnish government announced Wednesday it will reduce its stake in TeliaSonera, the Nordic region's largest telecommunications operator, by at least 5.3 percent with the sale of some 250 million shares, valued at about 1.15 billion euros (&#36;1.5 billion).
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Electronics retailer trims guidance as Americans curb spending.
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By Kyodo News International, Tokyo  Feb. 13--TOKYO -- Sony Corp. said Tuesday it will sharply reduce capital  expenditures for its semiconductor operations over the next three years as  part of its efforts to focus on money-making products.
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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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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  seeks  a buyer for its 32.9 percent stake in the Korean LCD firm,  Taiwan media reported on Friday.
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Sony Corp. plans to cut capital expenditures at its semiconductor operations by a "large amount," a company executive said Tuesday, weeks after the electronics giant reported a drop in profits for the latest quarter.
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To cut costs, Creative Technology plans to delist itself from the Nasdaq index.