Philips warns on profits due to weak Europe

AMSTERDAM (Reuters) - Philips Electronics NV warned of soft fourth quarter profits due to weak European consumer markets that is leading to charges for inventory it cannot shift. Europe's biggest consumer electronics maker said it will report a fall in underlying fourth quarter earnings to about 500 mln euros from 910 mln a year earlier. The earnings report, due at the end of January, would also show slowing sales growth across its biggest divisions and unspecified charges for products that are still sitting in its warehouses. ...