Philips Electronics NV’s German unit Philips Kommunikations Industrie AG remains a basket case, and warns that losses will continue: it says it cut its first half pre-tax loss to the equivalent of $85m, from $111m last time, and said it expected the full-year loss to be smaller than the $250m loss in 1993, but sales in the half plunged 26% to $319m, and the says full-year sales are likely to be 20% down on last year’s $1,089m; it blames sluggish sales of computers and news-cables, and curtailing of cordless and cellular telephones; the number of employees has now been reduced to 4,430 from 5,450.
