Philips Electronics lowered its Q3 semiconductor division outlook during a meeting with investors and financial analysts. The company expects third quarter sales in U.S. dollars to be 27 percent up on sales of the third quarter last year and sequential sales growth to be flat.

Previously, the company expected low-single-digit sequential growth in semiconductor revenues for Q3.

With Philips’ semiconductor business continuing to focus its R&D spending on emerging technologies, the company said the division would continue to draw on the strengths of Philips Research in developing advanced technologies with potential business opportunities and in supporting technology standards.

By: DocMemory
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