Due to the outstanding performance of the lighting department, Philips Electronics said that Q1 in 2010 has turned into a profit compared with the same period in 2009, with a net profit of 200 million euros (270 million US dollars), ranking the world's largest lighting equipment manufacturer.
In the first quarter of the Philips division, the profitability was also fully improved. Only the lighting department improved from a loss of 36 million euros in the same period in 2009 to a profit of 204 million euros. Philips pointed out that the sales of energy-saving LED bulbs is three times that of the same period in 2009, and European replenishment stocks also stimulate the sales of auto lamps.
Philips CEO Gerard Kleisterlee said in a statement: "The first quarter of this year's earnings report is much better than last year's recession, but the economic uncertainty is still high and consumer confidence is low."
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