By Polly Raymond, 22 September 1998 16:31
NEWS Dutch electronic consumer goods giant, Philips, has experienced a 17 per cent slide in shares on the back of a profit warning issued yesterday. In a statement, the company said income for this quarter is expected to fall to 1997 levels. The warning was blamed on "significantly higher" losses seen in the company's mobile phone handset division, Philips Consumer Communications. Philips will now focus on brand boosting and IT infrastructure upgrades to increase efficiency. The full financial report is expected on 22 October.
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