Loss Of Signal: Earnings Warning For Philips' TV Business

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Royal Philips Electronics, the Netherlands-based vendor of consumer lifestyle products and healthcare solutions, has issued an earnings performance warning relating to its struggling television business in Q111. In recent years the company has been losing market share to Asian manufacturers' low-cost, high-quality television sets. Although Philips has set itself an ambitious recovery programme for the television unit, it seems to have made little headway if this announcement is anything to go by, and BMI reiterates its view that it may not be long before Philips withdraws from this particular market altogether.