Philips Sales Slide In Q2 But COVID-19 Drives Growth In Connected Care

21 Jul 2020

• By Catherine Longworth

Philips reported $4.97bn in sales for the second quarter of 2020, a 6% decline compared to the second quarter of last year. While the pandemic slowed down demand across the business, Philips connected care business increased by 14% due to demand for respiratory devices.

Amsterdam, Netherlands-march 13, 2016: Royal Philips is a Dutch electronics company.

Royal Philips's sales declined 6% year-over-year in the second quarter of 2020 to €4.4bn ($4.9bn), but the company's revenue was partly buoyed by demand for respiratory devices.

The COVID-19 pandemic caused a steep decrease in demand for procedures and postponement of equipment installations in hospitals, resulting in...