Philips swings back to profit

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February 10, 2004, 09:11 AM —  IDG News Service — 

After two consecutive years of losses, Koninklijke Philips Electronics NV said Tuesday it returned to profitability in 2003, thanks to improved performance of its chip and consumer electronics units coupled with hefty cost-cutting measures.

Europe's largest producer of consumer electronics and the region's third largest supplier of semiconductors, reported a full-year net profit of

IDG News Service

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