Philips posts US$2.8-billion Q2 loss on asset depreciation; plans buyback

( – Philips, which makes household electrical and medical equipment, reported a net loss of 1.35 billion euros (US$2.8 billion) for the second quarter, mainly because of asset depreciation, the group said on Monday. The group booked depreciations totaling 1.39 billion euros in the second quarter.

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