On February 26, 2025, Philips introduced advanced AI technology in its MRI systems, featuring Dual AI engines in SmartSpeed Precise to speed up scanning. This innovation includes new AI-enabled MR Workspace software that improves patient flow, reduces scan times, and enhances image quality, resulting in more accurate diagnoses and shorter wait times for MRI scans. The latest technology is available in Philips' 1.5T and 3.0T MRI scanners, including the helium-free 1.5T BlueSeal wide-bore system, supporting healthcare providers globally.
On February 21, 2025, in Amsterdam, the Netherlands, Royal Philips (NYSE: PHG, AEX: PHIA), a worldwide leader in health technology, released its Annual Report for 2024. This report will be discussed at the Annual General Meeting of Shareholders (AGM) scheduled for May 8, 2025.
PHG's results for the fourth quarter show a drop in sales and profits because of reduced demand in China. As a result, they have adjusted their expectations for 2025 and are taking a careful approach moving forward.
On February 19, 2025, at 3:00 AM ET, Koninklijke Philips N.V. (NYSE:PHG) held its Q4 2024 earnings call. Key participants included Leandro Mazzoni, the Head of Investor Relations, Roy Jakobs, the CEO, and Charlotte Hanneman, the CFO. Various analysts from major financial institutions also joined the call to discuss the company's results.
Concerns about the Chinese market's stability are affecting global businesses, as Koninklijke Philips (PHG) expects to see a decline in sales there due to low consumer demand.
Philips' stock price dropped significantly on Wednesday after the Dutch healthcare company issued another warning about its situation in China. This announcement led to a major decline in the value of its shares.
On Wednesday, Dutch healthcare technology firm Philips predicted that its comparable sales will grow by 1% to 3% in 2025. This announcement comes after the company fell short of market expectations for the last quarter of the previous year, which was partly due to a significant drop in sales in China.
On February 19, 2025, the company reported its performance for the full year and the fourth quarter of 2024, showing sales of EUR 18.0 billion with a 1% growth in comparable sales. Despite challenges in China, the comparable order intake rose by 1% for the year and 2% in the fourth quarter. CEO Roy Jakobs highlighted improvements in profitability and cash flow, as well as the resolution of major legal issues related to the Respironics recall.
Roy Jakobs, the CEO of Royal Philips, appears on CNBC's 'Money Movers' to talk about the company's latest financial results.
On February 10, 2025, a new program aimed at improving technology and training is helping to lessen the effects of strokes, which are a major cause of death and disability. Royal Philips, in partnership with the World Bank and Ukraine's Ministry of Health, has launched a nationwide effort to enhance stroke and heart care in Ukraine. The need for stroke treatment in the country is increasing rapidly due to the impact of war and many people being unable to access timely medical help.