Gerard Kleisterlee Quotations

Semiconductors are fed by PCs and telecom. In PCs we have seen a wave. Somewhere around June people were optimistic PCs would rebound. And we saw in June orders picking up. In July, they fell back because PCs are not picking up. They are staying flat,

Bureaucracy and regulation is something we need to fight in Europe.

There is a lack of value creation, particularly around consumer electronics,

We're pleased that we are keeping our momentum, with strong growth and solid performance across all our main divisions. A strong customer focus, together with innovative products, helped expand our already strong position within healthcare, lifestyle and technology.

Underlying performance in our businesses has improved as a result of cost controls and better operating efficiencies, which is fundamental as we do not see much of an economic improvement in the near future,

That decline is considerably less than we've seen in other years.

The acquisition of Lifeline is an important step on our roadmap for growth in healthcare. By targeting seniors and other people who want to continue living independently and exerting more control over their health and lifestyle, we aim to become a global player in the evolving home healthcare market.

While we remain focused on expanding the company through value-creating acquisitions in our medical systems, domestic appliances and personal care and in our lighting businesses, we'll continue managing our capital efficiently to create optimum value for our shareholders,

The decline of the semiconductor market has bottomed out,

We see now for several weeks already a consensus around a decline of semiconductor market year-on-year of 26 percent,

While we are pleased with the progress of the Business Renewal Program, we see opportunities to further strengthen the activities and maximize shareholder value, with the step we announced today, in an industry where scale matters.

Focus on costs and asset management clearly remains the best course, given the fragile market conditions,

Thanks to solid underlying performance during the quarter, we are on track with our financial targets and delivering on our commitments.

After a slower first half year, we are pleased to see growth across Philips has picked up in the third quarter as we improved our profitability,

Its seems the worst slump in recent business history is behind us now, and the we begin to see the start of a new upturn in the business cycle, ... We are encouraged by the improved performance in many of our businesses, especially in semiconductors and components.

Consumer confidence in all major markets has been slipping this year, a trend that has accelerated after the tragic events of September 11.

The joint venture puts us in a clear cost-leadership position in a mature market,

By reducing the cost base drastically we will be able to realize market presence with greatly reduced exposure,

The electronics parts of our company continue to suffer heavily from continued poor market conditions in the telecom and PC-related businesses,

The economic slowdown that started in the USA last year has spread to other parts of the world now,