Philips warns Q4 sales will be 350 million euros less than forecast

AMSTERDAM - Philips, the maker of medical equipment, warned on Wednesday that its fourth quarter sales would be about 4.9 billion euros, or 350 million lower than forecast, because of supply chain shortages.

"We are closely working with suppliers and governments to address the shortages in the healthcare supply chain and ensure they recognize the importance of prioritising life-saving medical equipment," Chief Executive Frans van Houten said in a statement.