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Philips’ Q1 Profit Plummets on Weak TV Sales (E-Commerce Times)

Royal Philips Electronics reported a sharp drop in first-quarter profits Monday, with falling television sales in North America offsetting growth in its healthcare and lighting industries. The company said its net income was about $347 million, down from about $1.4 billion in the first quarter of 2007, when it had reported a net gain of about $1.2 billion for selling a stake in a Taiwanese …

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