Philips has announced that its third-quarter 2013 revenues reached EUR5.6 billion (US$7.56 billion), up 3% on year, with growth for the LED segment hitting 33%.
“This was another solid quarter for Philips, especially in light of the challenging global economic environment. I am pleased with the 33% increase in our operational results,” said Philips CEO Frans van Houten said. “At Healthcare, EBITA improved while sales were flat and order intake declined by 2%. Consumer Lifestyle continued its strong sales performance with a comparable sales growth of 9%, driven by our focus on locally relevant products. At Lighting, LED-based sales grew 33% over the previous year, leading to an overall growth of 3%.
“The global economy, however, continues to impact Philips’ business,” added Houten. “We originally expected conditions in North America and Europe to improve as the year would progress, leading to a stronger second half of the year. Unfortunately, this was not the case, as we saw ongoing headwinds in the global economy which affected growth in the third quarter.”