If energy needs to be saved, there are good ways to do it.
                                                               Government product regulation is not one of them

Wednesday, October 23, 2013

Philips Get Record Profits from Expensive Light Bulb Sales and Subsidies

Philips lighting profits just announced:
"We must be doing something right" in the words of Philips CEO Frans van Houten.
Sure, Frans - your company is doing the right thing, making sure that the cheap popular competition gets banned and that worldwide switchover subsidies are continued ;-)

ABC news:
Philips Winning Market Share in Lighting

Philips Profit Beats Estimates as Revamp Boosts Lighting (includes video interview)

...and similar from other news sources 21-22 October

Osram, the world's second largest light bulb maker are hardly unhappy either:
"Osram AG, the German lightbulb maker spun off by Siemens in July, gained as much as 3 percent, the most in two months, to 37 euros".

Main news extracts:

Chief Executive Officer Frans Van Houten is expanding more profitable businesses such as LED lighting....demand for LED lighting bulbs boosted profitability....earnings rose 33 percent to 634 million euros ($867 million)....the stock gained as much as 5.2 percent...

While presenting third quarter earnings on a conference call Monday, Frans van Houten did not give a specific figure on the company's global market share. But the report showed LED lighting sales grew by 33 percent from a year ago in the three months through September. They accounted for 30 percent of the 2.08 billion euros ($2.85 billion) in lighting sales Philips had in the quarter....the strong LED sales and lower restructuring charges led to a 140 million euro profit, from a 14 million loss in the same period a year ago...
"We must be doing something right" he said.

"non-sense and complexity?"


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