March 27 (Bloomberg) -- Royal Philips Electronics NV, the world’s largest maker of light bulbs, said it experienced a “further weakening” in all markets this quarter from the preceding three months and predicted sales will fall this year.

Chief Executive Officer Gerard Kleisterlee today declined to give a detailed forecast for 2009 earnings, citing the “uncertain” economic outlook. The health-care business may become Philips’s largest by sales this year, he said at the annual shareholders meeting in Amsterdam, where Philips is based.

On Jan. 26, Philips said it would cut 6,000 jobs and stop buying back shares after reporting its first quarterly loss in almost six years. Total Sales will drop from 26.4 billion euros ($35.1 billion) in 2008, spokesman Arent Jan Hesselink said.

Philips fell 21 cents, or 1.7 percent, to 12.37 euros, after declining as much as 3.8 percent in earlier Amsterdam trading. The stock has lost half its value in a year.

In January, Philips posted its first loss since the first quarter of 2003 as the economic slump hurt the value of stakes in LG Display Co. and NXP BV. The fourth-quarter net loss was 1.47 billion euros, compared with a profit of 1.4 billion euros a year earlier. Sales fell 8.9 percent to 7.6 billion euros.

At the time, Philips said it would halt its 5 billion-euro share buyback “until further notice” to preserve cash. The buyback won’t be restarted “in the short term,” Kleisterlee said today. He declined to say when the program will continue.

Kleisterlee said the company has a “consistent” dividend policy, which implies a dividend of the same level or higher. Philips “will do everything” to stick to that policy, he said.

Shareholders today approved a plan to pay a 2008 dividend of 70 cents a share, unchanged from a year earlier.

To contact the reporter on this story: Marcel van de Hoef in Amsterdam at mvandehoef@bloomberg.net

Last Updated: March 27, 2009 12:39 EDT