Philips lowers outlook as recall, parts shortages bite - NewsBreak
By Faria in Business
Updated 3 years ago
Dutch health technology company Philips on Monday lowered its outlook for sales and profit growth in 2021, as a massive recall of respiratory devices and global shortage of electronic components hit its third-quarter earnings. Comparable sales in the July-September fell 7.6% from last year, while adjusted earnings before interest, taxes...