Frans van Houten, CEO of Philips
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Philips CEO: We want to invest in innovation

Europe's biggest consumer goods manufacturer, Philips, has reported its third quarter result. Sales and profits improved with post-tax profit up to 170 million euros (£138m).

Philips has said despite strong economic headwinds on a global scale, the company is on a 'good trajectory' to meet its 2013 targets.

Frans van Houten, CEO of Philips said it had been necessary to shed thousands of jobs and focus on innovation.

  • 22 Oct 2012