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Philips CEO Finds Comfort In Solid Product Demand As Triple Headwind Blows In

Strategic Approach To Markets Resonates As Customers Look Beyond Sleep Recall

03 Feb 2022

Frans van Houten has promised a summer update on Royal Philips’ medium-term outlook after the company was hit from all sides in late 2021. He expects the resulting headwinds to persist into early 2022.

Royal Philips’ Frans van Houten had to display his pragmatic best when the company announced 2021 sales and earnings that were nothing like those anticipated a year ago.

Even deep into the second quarter, after what had been a COVID-busting first half in which revenues increased by 10%, there was no clear indication of the extent of the...