Philips Electronics NV yesterday reported a 56% plunge in second quarter net profits, with net profits before exceptional items sliding to the equivalent of $49m. Philips repeated its warning given in June that profits in the second half could be lower than last year’s $417m – If the economic trends fail to improve and the problems of the consumer electronics industry persist, it is unlikely that sales and net income from normal business operations will reach the level achieved in 1991.
