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Philips' losses worse than expected in 2024

Philips has today posted worse-than-expected losses in 2024, as the Dutch medical device maker bids to turn the page on a damaging recall of faulty sleep machines.
Business • 19 Feb

Philips shares surge on US recall settlement news

Philips shares surged 35% this morning as the medical devices maker announced a smaller than expected settlement to resolve claims over recalled breathing devices in the US.
Business • 29 Apr 24

Philips shares drop as new order decline clouds outlook

Shares of Dutch health technology company Philips dropped 4% today as strong quarterly earnings and an upgraded outlook for 2023 could not offset worries about a continuing fall in new orders.
Business • 23 Oct 23

Exor takes 15% stake in Philips for around €2.6 billion

Healthcare technology company Philips said today that Dutch investment firm Exor has taken a 15% stake in the company in a deal worth around €2.6 billion.
Business • 14 Aug 23

Philips to cut jobs after medical equipment recall

Dutch medical equipment maker Philips said today it expected to scrap around 4,000 jobs as it tried to streamline its organisation after a massive recall slashed around 70% off its market value in the past year.
Business • 24 Oct 22

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