Philips considering their options

Philips the worlds largest lighting and hospital equipment maker are said to be considering their options following poor sales and growth over the last 2 years and a failure to compete with the asian Giants who are more cheaper and efficient. Philips are negotiating a sale of their Television business to Hong Kong based electronics giant TVP. They are also announcing a wide range of cuts across employees and manafacturing in an attempt to boost business. Ever since 2008, Philips have struggled due to the economic downturn.

Sources www.irishtimes.com