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Philips takes fresh hit from safety recall

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Philips takes fresh hit from safety recall

THE HAGUE – Dutch electronics firm Philips said today that sales had taken a fresh hit from a recall of faulty sleep and respiratory care equipment and from supply chain issues.

Philips added that it faced an unknown possible impact from lawsuits over the devices, which were recalled in June after the firm announced they put users at risk of inhaling or swallowing pieces of degraded sound-dampening foam.

The company said in a statement that third quarter sales fell 7.6% to 4.2 billion euros (US$4.8 billion / RM20.3 billion) from a year earlier “due to headwinds caused by global supply chain challenges and sleep and respiratory care recall consequences.”

The safety recall had caused a 150-million-euro “headwind” while supply issues accounted for about the same amount, CEO Frans van Houten told a conferenc

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