Philips Boosts Margins Amidst Global Sales Challenges

Koninklijke Philips (PHG) has released an update.

Philips reported a strong improvement in margins for Q3 2024 despite flat sales growth, largely due to increased productivity and AI-driven innovations. The company faced declining demand in China but saw growth in other regions, prompting a revised full-year outlook with modest sales growth expectations. Philips remains committed to executing its three-year plan to enhance operational efficiency and capitalize on growth opportunities.

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