Philips to impair the book value of its Lumileds business

Due to short-term market demand and uncertain outlook, Royal Philips Electronics has announced that it will impair the book value of its Lumileds business by EUR 232 million (approximately $305 million).

During the company’s investor and analyst day, this move was initially indicated. Philips said the value adjustment was a consequence of reduced short-term market demand and uncertain outlook caused by the current macro economic downturn.

It’s disclosed that the adjustment will be booked in the company’s results for the fourth quarter of 2008, which will be published on January 26, 2009.

Disclaimers of Warranties
1. The website does not warrant the following:
1.1 The services from the website meets your requirement;
1.2 The accuracy, completeness, or timeliness of the service;
1.3 The accuracy, reliability of conclusions drawn from using the service;
1.4 The accuracy, completeness, or timeliness, or security of any information that you download from the website
2. The services provided by the website is intended for your reference only. The website shall be not be responsible for investment decisions, damages, or other losses resulting from use of the website or the information contained therein<
Proprietary Rights
You may not reproduce, modify, create derivative works from, display, perform, publish, distribute, disseminate, broadcast or circulate to any third party, any materials contained on the services without the express prior written consent of the website or its legal owner.

Strawberries flourish in a Controlled-Environment Agriculture Installation with Horticulture LED lighting provided by Cree LED and RED Horticulture. (Photo courtesy of RED Horticulture) The integration of technology into every aspect of life i... READ MORE

The prior blog titled “Nichia’s contribution to a realization of a mercury-free society” took a short break. However, there was a release about new LED-based water disinfection devices made by Miura Co., Ltd., a Japanese manu... READ MORE