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CEO: Triple Headwind Cannot Blow Philips Off Strategic Course

Customers are looking beyond sleep recall issue

 
• By Ashley Yeo

Frans van Houten has promised a summer update on Royal Philips’ medium-term outlook after the company was hit from all sides in late 2021. He expects the resulting headwinds to persist into early 2022.

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Royal Philips’ Frans van Houten had to display his pragmatic best when the company announced 2021 sales and earnings that were nothing like those anticipated a year ago.

Even deep into the second quarter, after what had been a COVID-busting first half that increased revenues by 10%, there was no clear indication of the extent of the future...

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