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Signify launches business review and cost-cutting drive

Signify has today announced a €180m cost-cutting drive, affecting 900 jobs worldwide, and a broad strategic review under its new chief executive, after the world's biggest lights maker missed market forecasts for its annual results today.

Business • 30 Jan

Analysts have valued Philips' lighting unit as being worth roughly €5 billion

Philips to seek IPO for Philips Lighting division

Medical equipment and technology firm Philips said today it will spin off its lighting division, the world's largest maker of lights, in an initial public offering of shares.

Business • 03 May 16

Sales rose to €24.2 billion amid rising orders in North America and Europe, Philips said

Electronics giant Philips posts 55% jump in profit

Dutch electronics giant Philips has unveiled solid net profits for last year, up 55% on 2014, driven by increased sales in its healthcare and lifestyle business.

Business • 26 Jan 16

The deal to sell an 80% stake in Lumileds ran into opposition from the Committee on Foreign Investment in the US

Philips' sale of lighting unit to US group off

Philips suffered a major setback in plans to dispose of its big lighting division as a $3.3 billion deal to sell its components business to a consortium of Asian buyers broke down over US national security objections.

Business • 22 Jan 16

Philips to break its 120-year-old company in two

Philips to split off lighting business

Philips said it will break its 120-year-old company in two, creating a stand-alone lighting business and merging consumer and healthcare divisions into a €15 billion business.

Business • 23 Sep 14

Philips' profits improve across the group

Philips today reported a near tripling in its third-quarter net profit, thanks to improvements across the group after two years of rationalisaton.

Business • 21 Oct 13