Philips losses worse than expected in 2024

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Philips' losses mount amid China slump and fallout from recall of faulty sleep machines

The firm reported a net loss of €698 million for the full year 2024, compared to the €463 million loss it posted in 2023.

NOS

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Philips plunged deep into the red again last year. The bottom line was a loss of 698 million, mainly due to a settlement of 1.1 billion dollars that Philips made in the United States last year due to problems with sleep apnea devices. The company also wrote a significant loss in 2023 with 463 million. In addition, Philips' turnover also declined slightly, mainly because sales in China fell sharply. The total decline in turnover remained limited …

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Philips losses worse than expected in 2024

Philips on Wednesday posted worse-than-expected losses in 2024, as the Dutch medical device maker bids to turn the page on a damaging recall of faulty sleep machines.

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The medicinal product agency considers the replacement rate of ‘defected devices' to be ‘satisfactory'.

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The Dutch group is allowed to put its breathing apparatus back on the French market, after a suspension for suspicions of health risks, announced the National Medicines Agency (ANSM) on Tuesday, 18 February.

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Philips posts almost €700m loss, sees sales growth this year - DutchNews.nl

Philips posts almost €700m loss, sees sales growth this year