AMSTERDAM: Dutch Electronics giant Philips will book further, unspecified, restructuring charges in the first half of 2012, Chief Executive Officer Frans van Houten said on Monday.
"The first half of 2012 will see the impact of these charges and overall we are cautious about the development of the first half of the year. It is not going to be an easy first half," said Van Houten.
Earlier on Monday, Philips reported a 45 percent fall in fourth-quarter core profit due to losses at both its health and lighting divisions, and said it was cautious about 2012 given uncertainty in the global economy, particularly in Europe.
Van Houten also said the firm is committed to achieving its 2013 financial targets.