BREAKING NEWS

Dutch giant Philips has announced a net loss for the third quarter and revised its Q2 earnings to a lower level, year-on-year, yet remains bullish about 2015 and 16.

It says its divestment of the lighting division remains on-track and investment in the higher-margin medical and consumer divisions continues.

Quitting the business that built Philips 123 years ago is likely to see the lighting spin-off initially in the form of a public offering of shares, with the household name helping float the new company onto the market.

Its shares dipped four percent on Tuesday on the Q3 news.