Reported about 21 hours ago
Philips CEO Roy Jakobs has projected a subdued demand in China for the year ahead due to ongoing government anti-corruption efforts that have negatively impacted Western companies' revenues. Despite recent meetings with Chinese officials suggesting potential recovery, Jakobs expects Chinese sales to contribute around 10% of total revenue, down from over 13% earlier in the decade. The market remains volatile, particularly with upcoming foreign trade policies under the incoming U.S. administration.
Source: YAHOO