1434 GMT - Philips's sales drop in China overshadows its return to a positive order intake in the fourth quarter, Jefferies analysts Julien Dormois and Martinien Rula say in a note. The Dutch medical devices company posted a double-digit decline in China sales in 4Q but grew its order intake on positive U.S. momentum, Jefferies says. "Overall, we remain concerned that recent order trends will put pressure on sales growth well into 2025," they say. Market conditions in China are expected to remain uncertain in 2025 as macroeconomic challenges persist, the analysts say. Shares are down 12% at 23.81 euros.(helena.smolak@wsj.com)
(END) Dow Jones Newswires
February 19, 2025 09:34 ET (14:34 GMT)
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