Philips Warns on Chip Unit Sales
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Europe's top consumer electronics  group Philips cut the forecast for its closely-watched  semiconductor unit on Friday, pointing to the predicted  slowdown of the sector's recovery.
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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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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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Sales of semiconductors in November indicate that consumer products such as LCD (liquid crystal display) TVs, digital music players, and other devices sold well during the holidays, the Semiconductor Industry Association (SIA) said Monday.November chip sales rose 2.3 percent year-on-year to $23.1 billion, the SIA said.Unit demand has far outpaced last year. But falling chip prices have hurt industry revenue, the chip association said. For example, DRAM (dynamic RAM) bit shipments grew 25 percent in the three months through mid-December, but average selling prices have declined 20 percent over the same period.The association also noted that rising energy prices and concerns about the sub-prime lending issue in the U.S. do not appear to have had a significant impact on consumer spending for the holidays, the SIA said. The group reiterated its forecast that worldwide semiconductor sales will reach a new record in 2007. But it will take a stronger than expected December selling season to reach the 3.8 percent growth goal the group had&#160;forecast earlier this year, the SIA said.Investment banking firm Credit Suisse was not as optimistic as the SIA.The November data was below normal seasonal trends, noted analyst John Pitzer, in a report on Monday. Even if December reaches its normal seasonal growth, 2007 industry revenue will only reach $255.7 billion, up 3.2 percent over last year. The growth percentage would fall short of the SIA&#39;s 3.8 percent target.The slow November prompted Credit Suisse to lower its 2008 chip industry revenue forecast to 9.4 percent year-on-year growth, down from a previous target of 13 percent.
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SEMICONDUCTOR maker Advanced Micro Devices has warned its quarterly revenue will be lower than forecast, citing softness in sales of its memory chips used in cell phones and other devices.
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Semiconductor maker Advanced Micro Devices Inc.  warned on Monday that its quarterly revenue will be lower than forecast, citing softness in sales of its memory chips used in cell phones and other devices. The company's shares fell after the warning.
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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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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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Investor's Business Daily - Philips Semiconductors has a plan to cash in on the craze for cool new features in cell phones.
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The consumer products conglomerate warns of lowers sales and profits.
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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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Philips, Europe's largest maker of consumer electronics, is cautious about earnings growth despite reporting a profit in the third quarter.
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After an absence of a decade, Philips Electronics is making personal computers again, the company said yesterday. The Netherlands-based electronics conglomerate, which abandoned the PC business in the early
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The electronics company warns on third-quarter earnings.
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Advanced Micro Devices Inc.  said on Thursday it expects overall demand for microprocessor units to rise 10 percent in 2007, and forecast its own unit growth at twice the industry rate.
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perspective Paul Zeven, CEO of Philips Electronics North America, says the industry is making products that are far too complex.
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Philips, Europe&#39;s largest maker of consumer electronics, has reported a higher-than-expected third-quarter operating profit. But the company is cautious about the future, warning that high oil prices and unrest in Iraq were hitting demand.