Philips Get Record Profits from Expensive Light Bulb Sales and Subsidies

Philips lighting profits just announced:
"We must be doing something right" in the words of Philips CEO Frans van Houten.
Sure, Frans - your company is doing the right thing, making sure that the cheap popular competition gets banned and that worldwide switchover subsidies are continued ;-)

ABC news:
Philips Winning Market Share in Lighting

Bloomberg:
Philips Profit Beats Estimates as Revamp Boosts Lighting (includes video interview)

...and similar from other news sources 21-22 October

Osram, the world's second largest light bulb maker are hardly unhappy either:
"Osram AG, the German lightbulb maker spun off by Siemens in July, gained as much as 3 percent, the most in two months, to 37 euros".


Main news extracts:

Chief Executive Officer Frans Van Houten is expanding more profitable businesses such as LED lighting....demand for LED lighting bulbs boosted profitability....earnings rose 33 percent to 634 million euros ($867 million)....the stock gained as much as 5.2 percent...

While presenting third quarter earnings on a conference call Monday, Frans van Houten did not give a specific figure on the company's global market share. But the report showed LED lighting sales grew by 33 percent from a year ago in the three months through September. They accounted for 30 percent of the 2.08 billion euros ($2.85 billion) in lighting sales Philips had in the quarter....the strong LED sales and lower restructuring charges led to a 140 million euro profit, from a 14 million loss in the same period a year ago...
"We must be doing something right" he said.

"non-sense and complexity?"