THE HAGUE, Jan. 24 (Xinhua) -- Philips increased its revenue and profit in 2016, the Dutch health technology company announced on Tuesday.
In the full year of 2016, Philips, which transformed from a lightning, television and electronics company into a health technology company in recent years, posted sales of 24.52 billion euros (26.37 billion U.S. dollars), compared with 24.24 billion euros in 2015.
The comparable sales growth in the HealthTech portfolio was 5.0 percent and in the Philips Group consolidated comparable sales growth was 3.0 percent. Net income rose from 659 million euros in 2015 to 1.49 billion euros in 2016.
In the fourth quarter of 2016, Philips had a net income of 640 million euros, compared with a loss of 39 million euros in the same period in the previous year. Sales amounted to 7.24 billion euros in the fourth quarter of 2016, compared with 7.10 billion euros in Q4 2015.
