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Philips Electronics reports fourth quarter losses in 2011

Dutch group Philips Electronics has reported a 160m euro ($210m; £134m) net loss for the fourth quarter of 2011.

The result compared with a 465m euro profit a year earlier.

The firm, which is in the process of pulling out of its TV business, blamed weak European sales and delivery delays in its healthcare sector.

"We are cautious about 2012 given the uncertainty in the global economy, and Europe in particular," said Chief Executive Frans van Houten.

  • 30 Jan 2012