European consumer electronics giant Philips today reported a first quarter profit of €219m - down 75% against the same time last year when it benefited from exceptional profits.
Philips also said it suffered from troubles in the television market.
The first quarter profit figure was down from €875m last year when the company gained €733m from the sale of shares in Taiwan Semiconductor Manufacturing and was also below estimates of €264-344m given by analysts.
The Dutch group said it had turnover of €5.965 billion, up 0.5% from the €5.93 billion in the first quarter of 2007.
