A brighter future? Philips. (Philips Gloeilampenfabrieken N.V.)

From: The Economist (US) | Date: August 13, 1994 | Copyright information

Philips, the Dutch consumer electronics manufacturer, is slowing seeing an increase in profits after falling behind its competitors. Chairman Jan Timmer has turned the company around by cutting the workforce and closing unprofitable factories.

FOUR years ago, Philips seemed doomed. Losses in 1990 came to 4.1 billion guilders ($2.3 billion); its market capitalisation plunged to a meagre 5.5 billion guilders. While its arch rivals from Japan, Sony and Matsushita, swept imperiously in...

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