Philips expects 'disappointing' fourth quarter

Philips light bulbs
Image caption Philips announced 4,500 job cuts in October

Dutch group Philips Electronics has said that weak demand in Europe has hit its fourth quarter results.

In a trading update, the group said it had taken a charge on stock it cannot shift in its lighting division.

And delays in deliveries are expected to have an impact on its healthcare sector, reducing sales growth by an estimated 2-3%.

Philips said it was disappointed with the results, but was confident it would achieve its 2013 mid-term targets.

The company will report its fourth quarter results on 30 January.

Philips has struggled to compete with lower-cost Asian rivals in recent months. It said in October that it was going to cut 4,500 jobs.

More on this story

Related Internet links

The BBC is not responsible for the content of external Internet sites