Philips expects summer recovery from supply chain woes

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AMSTERDAM: Dutch health technology company Philips said on Monday (Jan 24) it expects sales to recover strongly in the second half of the year, while a steep decline due to global shortage of parts is likely to persist in the coming months. Philips earlier this month warned that supply chain woes would hit

AMSTERDAM: Dutch health technology company Philips said on Monday it expects sales to recover strongly in the second half of the year, while a steep decline due to global shortage of parts is likely to persist in the coming months.

"We expect to start the year with a comparable sales decline, followed by a recovery and strong second half of the year," chief executive officer Frans van Houten said in a statement.

 

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