Philips takes fresh hit from safety recall

Philips is setting aside RM1.2bil to address issues that are expected to arise from the recall of its faulty sleep and respiratory care equipment. — REUTERS

Dutch electronics firm Philips said on Monday that sales had taken a fresh hit from a recall of faulty sleep and respiratory care equipment and from supply chain issues.

Philips added that it faced an unknown possible impact from lawsuits over the devices, which were recalled in June after the firm announced they put users at risk of inhaling or swallowing pieces of degraded sound-dampening foam.