Philips returns to profit, sells entertainment business | Bangkok Post: news

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Philips returns to profit, sells entertainment business

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Electronics giant Philips reported 2012 net profits of 231 million euros (311 million dollars), after losses of 1.29 billion euros in 2011, and announced the sale of its entertainment business to focus further on health products. 

Electronics giant Philips on Tuesday reported 2012 net profits of 231 million euros (311 million dollars), after losses of 1.29 billion euros in 2011, and announced the sale of its entertainment business to focus further on health products

Company profits were nevertheless hit by a loss of 355 million euros in the fourth quarter because of a one-off 509-million euro European Commission fine for cathode ray price fixing, Philips said in a statement.

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