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Philips Predicts TV Business Will Be Profitable in 2011

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Gerard Kleisterlee, CEO of Royal Philips Electronics NV
Gerard Kleisterlee, chief executive officer of Royal Philips Electronics NV, speaks at the annual results news conference at the company headquarters in Amsterdam, on Jan. 25, 2010. Photographer: Jock Fistick/Bloomberg

May 6 (Bloomberg) -- Royal Philips Electronics NV, the world’s biggest lighting company, said its television unit will be profitable in 2011 after at least breaking even this year.

The division will have a mid single-digit margin for earnings before interest, taxes and amortization in 2011, Chief Financial Officer Pierre-Jean Sivignon told reporters in Boston today.

Sivignon also said the company is seeing increased demand for low- and mid-end imaging products in the U.S. and for high-end imaging in China.

To contact the reporter on this story: Maud van Gaal in Amsterdam at mvangaal@bloomberg.net

To contact the editor responsible for this story: Vidya Root at vroot@bloomberg.net

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