THE HAGUE, Jan 29: Under-fire Dutch medical device maker Philips said Monday it would halt new sales of sleep machines in the United States after a series of recalls that continued to weigh on results.
The firm trimmed its losses for 2023 compared with the previous year, as it seeks to bounce back from what it had described as a "very difficult" 2022.
Philips posted losses of 463 million euros ($501 million) over the full year, compared with 1.6 billion euros in 2022, with chief executive Roy Jakobs hailing "strong results."
"While there is more work to be done, the progress we achieved in a volatile world lays a solid foundation for sustained performance," said Jakobs.
Traders appeared downbeat on the prospects, however, with Philips being the biggest loser at the opening of the Amsterdam stock exchange, down around four percent.
Since 2021, the company has been battling a series of crises over its DreamStation machines for sleep apnoea, a disorder in which breathing stops and starts during sleep. —AFP
