Dutch multinational Philips booked a net loss of 160 million euros in the fourth quarter of last year. In the last quarter of 2010 it made a 465-million-euro profit.
Philips had already issued a profit warning on 10 January in view of the weak European market.
CEO Frans van Houten commented "We’re cautious about 2012, given the uncertainties in the global economy and Europe in particular."
The company hopes to improve efficiency and underlying profit margins this year.
(imm/ae)
© Radio Netherlands Worldwide
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