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BUSINESS
November 3, 1998
* Royal Philips Electronics said falling prices for television tubes and other components are prompting it to accelerate its cost-cutting efforts. The Dutch company has shut 25 factories since Jan. 1 and plans to have 226 operating by year's end, and between 160 and 170 plants by 2002.
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BUSINESS
February 23, 2008 | From Times Staff and Wire Reports
U.S. and European Union authorities seized more than 360,000 counterfeit computer chips in their first joint operation to crack down on what they call a rising economic and safety threat from Asia. U.S. and EU officials said a probe in five countries last November and December uncovered a pattern of trade in chips passed off as products of makers including Cisco Systems Inc., National Semiconductor Corp. and Royal Philips Electronics. Most came from China.
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BUSINESS
October 7, 1999
* Gillette Co. lost a court bid to stop a television ad campaign by Royal Philips Electronics' Norelco division, which claimed its Reflex Action Razor "shaves with less irritation than blades." The ruling by a federal court judge in Boston ends nearly three years of litigation between Gillette and Norelco. * Guide to Our Staff: Need to reach Business section reporters or editors? A guide to the section's staff can be found at http://www.latimes.com/bizstaff.
BUSINESS
November 27, 2007 | From Bloomberg News
Royal Philips Electronics, the world's biggest maker of light bulbs, said Monday that it had agreed to buy lighting-fixtures manufacturer Genlyte Group Inc. for $2.7 billion. Philips said it would pay $95.50 a share in cash. The bid is 52% more than Louisville, Ky.-based Genlyte's closing price of $62.67 on Friday. The deal would make Philips the biggest lighting company in North America.
BUSINESS
November 18, 2000 | Associated Press
Agilent Technologies Inc., the testing and measurement equipment company spun off from Hewlett-Packard Co., is selling its medical-supply group to Royal Philips Electronics for $1.7 billion. In the deal, the Dutch company would get Agilent's health-care solutions group, which has annual sales of $1.5 billion in patient monitoring, ultrasound imaging, resuscitation and other high-tech medical supplies. Shares of Palo Alto-based Agilent jumped $5.75 to close at $47.38 on the Big Board.
BUSINESS
February 23, 2008 | From Times Staff and Wire Reports
U.S. and European Union authorities seized more than 360,000 counterfeit computer chips in their first joint operation to crack down on what they call a rising economic and safety threat from Asia. U.S. and EU officials said a probe in five countries last November and December uncovered a pattern of trade in chips passed off as products of makers including Cisco Systems Inc., National Semiconductor Corp. and Royal Philips Electronics. Most came from China.
BUSINESS
September 30, 1998 | Bloomberg News
Royal Philips Electronics, Europe's largest consumer electronics maker, said it will join with Taiwan Semiconductor Manufacturing Co. and Singapore's EDB Investments to build a $1.2-billion computer chip factory in Singapore. The plant, to be operational in the second half of 2000, will produce logic chips used in devices such as televisions and mobile phones.
BUSINESS
July 5, 2001 | Bloomberg News
Royal Philips Electronics, Europe's largest consumer-electronics maker, agreed to buy Marconi's medical systems business for $1.1 billion to become the world's No. 2 maker of diagnostic-imaging equipment. Marconi's unit, with $1.6 billion in sales in fiscal 2001, will bolster Philips' line of equipment to provide internal images of the body. Philips, based in Amsterdam, will have spent more than $5 billion in two years to catch up with General Electric Co. in medical systems.
BUSINESS
October 12, 2007 | From Times Staff and Wire Reports
Giant consumer electronics maker Royal Philips Electronics said it planned to acquire Lighting Technologies International, a Baldwin Park-based maker of lighting equipment for the entertainment industry. Financial terms weren't disclosed. LTI's lamps and other equipment are used in theaters and at concerts, and can be seen at such landmarks as the Towers of Light at New York's Ground Zero, the Eiffel Tower in Paris and Egypt's Pyramids of Giza.
BUSINESS
March 23, 1999
VLSI Technologies Inc. agreed to discuss negotiations it held with Royal Philips Electronics, whose $777-million hostile buyout offer last month for the custom chip maker was rejected as too low. "We look forward to working out a process for discussions with you concerning" negotiations, VLSI Chief Executive Alfred Stein wrote in a letter to Arthur van der Poel, chief executive of Philips' semiconductor unit. The letters were in separate Securities and Exchange Commission filings.
BUSINESS
October 12, 2007 | From Times Staff and Wire Reports
Giant consumer electronics maker Royal Philips Electronics said it planned to acquire Lighting Technologies International, a Baldwin Park-based maker of lighting equipment for the entertainment industry. Financial terms weren't disclosed. LTI's lamps and other equipment are used in theaters and at concerts, and can be seen at such landmarks as the Towers of Light at New York's Ground Zero, the Eiffel Tower in Paris and Egypt's Pyramids of Giza.
BUSINESS
February 21, 2006 | From Bloomberg News
Dell Inc., the world's largest maker of personal computers, lost a $700-million contract to supply Philips Electronics with PCs and system management. Amsterdam-based Philips, Europe's No. 1 maker of consumer electronics, and Dell "mutually" agreed to end the contract, Philips spokesman Jayson Otke said Monday. Dell spokesman Jess Blackburn did not have an immediate comment. The deal was part of Dell Chief Executive Kevin Rollins' efforts to expand sales beyond PCs, Dell's biggest moneymaker.
BUSINESS
October 17, 2001 | Bloomberg News
Royal Philips Electronics, Europe's largest consumer-electronics maker, said Tuesday that it posted a third-quarter loss and that it expects its first unprofitable year since 1996 as demand for semiconductors, computer screens and televisions sags. The company forecast a 2001 loss of about $543 million before some expenses and plans to slash costs by $272 million, Chief Financial Officer Jan Hommen said. The company's sales plunged 23% in the third quarter from a year earlier.
BUSINESS
July 5, 2001 | Bloomberg News
Royal Philips Electronics, Europe's largest consumer-electronics maker, agreed to buy Marconi's medical systems business for $1.1 billion to become the world's No. 2 maker of diagnostic-imaging equipment. Marconi's unit, with $1.6 billion in sales in fiscal 2001, will bolster Philips' line of equipment to provide internal images of the body. Philips, based in Amsterdam, will have spent more than $5 billion in two years to catch up with General Electric Co. in medical systems.
BUSINESS
May 22, 2001 | Times Wire Services
Dutch Philips Electronics reiterated its medium-term targets despite weakness in its semiconductor unit because of a deepening slump in the industry. Chief Financial Officer Jan Hommen said latest estimates pointed to worldwide revenue in the semiconductor industry to be down about 20% in 2001 from 2000 levels, according to the company. Philips expects to outperform the semiconductor industry by 5%, Hommen said at the CSFB European Technology Conference in Barcelona.
BUSINESS
November 18, 2000 | Associated Press
Agilent Technologies Inc., the testing and measurement equipment company spun off from Hewlett-Packard Co., is selling its medical-supply group to Royal Philips Electronics for $1.7 billion. In the deal, the Dutch company would get Agilent's health-care solutions group, which has annual sales of $1.5 billion in patient monitoring, ultrasound imaging, resuscitation and other high-tech medical supplies. Shares of Palo Alto-based Agilent jumped $5.75 to close at $47.38 on the Big Board.
BUSINESS
May 24, 2000 | Bloomberg News
Shares of MedQuist Inc., which transcribes medical records dictated by telephone, rose as much as 17% after Royal Philips Electronics agreed to buy a majority stake in the company for about $1.2 billion. MedQuist shares jumped $3.75 to close at $42.88 in heavy trading on Nasdaq. Philips offered $51 a share for 60% of Marlton, N.J.-based MedQuist, a 30% premium to Monday's closing price.
BUSINESS
November 27, 2007 | From Bloomberg News
Royal Philips Electronics, the world's biggest maker of light bulbs, said Monday that it had agreed to buy lighting-fixtures manufacturer Genlyte Group Inc. for $2.7 billion. Philips said it would pay $95.50 a share in cash. The bid is 52% more than Louisville, Ky.-based Genlyte's closing price of $62.67 on Friday. The deal would make Philips the biggest lighting company in North America.
BUSINESS
May 24, 2000 | Bloomberg News
Shares of MedQuist Inc., which transcribes medical records dictated by telephone, rose as much as 17% after Royal Philips Electronics agreed to buy a majority stake in the company for about $1.2 billion. MedQuist shares jumped $3.75 to close at $42.88 in heavy trading on Nasdaq. Philips offered $51 a share for 60% of Marlton, N.J.-based MedQuist, a 30% premium to Monday's closing price.
BUSINESS
October 7, 1999
* Gillette Co. lost a court bid to stop a television ad campaign by Royal Philips Electronics' Norelco division, which claimed its Reflex Action Razor "shaves with less irritation than blades." The ruling by a federal court judge in Boston ends nearly three years of litigation between Gillette and Norelco. * Guide to Our Staff: Need to reach Business section reporters or editors? A guide to the section's staff can be found at http://www.latimes.com/bizstaff.
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