Philips

The National Company Law Tribunal has dismissed the petition by Philips India to buy out the remaining 3.87 per cent from its minority shareholders, observing a "huge difference" between values determined by the company-appointed valuer and its minority investors. The Kolkata bench of NCLT though agreed with the "discounted cash flow method" adopted by the valuers appointed by Philips India and its minority shareholders but pointed out a "huge difference" between the price of the share determined by them. "While petitioner (Philips India) appointed valuer has valued it at Rs 740 per share, the respondent (minority shareholders) appointed valuer has valued in excess of Rs 4,500, by suggesting a range between Rs 4,605 to Rs 6,119," it said. The tribunal suggested that the situation may require a direction to the registered valuer to disclose the parameters factored while determining the price under the discounted cash flow method to reconcile two vastly different prices determined by

At Philips, Bharath Sesha succeeds Daniel Mazon, who has moved to a global role at Philips headquarters in the Netherlands

Since late 2022, Philips has said it would slash up to 10,000 jobs in an attempt to restore profitability and improve product safety

The company reached a $1.1 billion settlement for CPAP machine lawsuits in US

The devices were recalled in April 2021 because of concerns that foam used in them could degrade and become toxic, carrying potential cancer risks

As part of this plan, Philips is also required to make several attempts to contact a patient or a medical equipment provider regarding actions they must take to help ensure patients

Buy a device that covers a large area of the room and removes dust, dander too

Amsterdam-based Philips and its US unit agreed to settle a class-action lawsuit filed by device users who bought or rented one of the 16 lines of recalled machines, the attorneys said in a filing

The Philips TAB8967 soundbar has 5.1.2 channel audio set-up - three front facing speakers, two rear facing speakers, two upward facing speakers, and an 8-inch wireless subwoofer

Dutch consumer electronics and medical equipment maker Philips said Monday it is cutting 6,000 jobs worldwide over the next two years as it revealed a net loss of 1.6 billion euros (USD 1.7 billion) in 2022, down from a net profit of 3.3 billion euros last year. The job losses come on top of a reduction of 4,000 staff the company announced in October. The company, which has its headquarters in Amsterdam, is reeling from a worldwide recall of sleep apnea machines and economic headwinds including COVID-related issues in China and the war in Ukraine. CEO Roy Jakobs said 2022 was a very difficult year for Philips and our stakeholders, and we are taking firm actions to improve our execution and step up performance with urgency. He said the job cuts will significantly reduce costs and make Philips a leaner and more focused organisation.

Named Philips TAH8506BK, the headphones are priced at Rs 10,999. It will be available for purchase on Amazon India

Philips TAB8947 3.1.2 and Philips TAB7807 3.1 CH Dolby Atmos Soundbars will be available at Rs 35,990 and Rs 28,990 across leading online platforms and offline stores in the country

The device must clean up particulate matter, allergens and ultra-fine dust particles

The job cut represents over five per cent of the company's work force

The addition of mop accessory gives the Philips SpeedPro Aqua an advantage over peers because most cordless cleaners make do with vacuum function alone

Germany, which was earlier India's top European export destination (eighth position), has now dropped two ranks to 10th place

Philips on Wednesday said it expected fourth-quarter core profit to drop around 40% to about 650 million euros ($739.25 million)

Business Standard lists five interesting devices launched in India this year

The Philips Fresh Air Mask is a one-of-its-kind face mask with a built-in fan to help tide over the feeling of breathlessness, which many face while wearing conventional face masks for extended hours

The group also announced a 1.5 billion euro share buyback set to start in the third quarter and take up to three years.