Reported 30 days ago
Philips shares have dropped after the company lowered its full-year sales forecast due to sluggish demand in China, which negatively impacted Q3 results. CEO Roy Jakobs discussed the challenges, noting deteriorating consumer sentiment and expectations of stabilization in hospital demand didn't materialize. Despite this, he remains hopeful for a recovery in the Chinese market and reported growth in North America, where demand for procedures and imaging is increasing.
Source: YAHOO