Chips and ships: Philips cuts outlook as supply chain problems grow

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  • Philips cuts 2021 sales and profit outlook
  • Says supply chain problems likely to increase in Q4
  • Comparable sales fell 7.6% in Q3, with core profit down 25%

AMSTERDAM, Oct 18 (Reuters) – Dutch health technology company Philips (PHG.AS) on Monday cut its outlook for sales and profit growth this year and said the global supply chain problems that added to its growing list of worries in the third quarter would likely intensify.

https://www.reuters.com/technology/philips-lowers-outlook-recall-parts-shortages-bite-2021-10-18/

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