• Foreign Affairs
  • Money Matters
  • Domestic Affairs
  • IT, Innovation and Startups
 

Talk Finance

£$$€№₮IAL €¢¤₦¤MI¢ №€₩$
  • Foreign Affairs
  • Money Matters
  • Domestic Affairs
  • IT, Innovation and Startups

Talk Finance

  • Foreign Affairs
  • Money Matters
  • Domestic Affairs
  • IT, Innovation and Startups

In Money Matters

Philips attempt to sell an overpriced batch of ventilators failed miserably

1st September 2020 Matthew Patridge

Philips attempt to sell an overpriced batch of ventilators failed miserably Pin It

A serious setback for Philips: the technology group has lost an American order for the supply of 30 000 respirators halfway through the journey. The commission issued by the US Department of Health in April was ‘unexpectedly’ withdrawn.

In April, as the number of Coronas fuses in the United States grew rampant, a total of ten suppliers, including car manufacturer General Motors, were asked to supply a total of 187 thousand patient respirators. Philips received the largest order by far with 43,000 of them. Now that Philips has supplied 12,300 devices, the ministry has crossed a line by delivering the remaining 30.000.

For Philips, the message came as an unpleasant ‘surprise’, according to a spokesman. The Americans have not yet given a formal reason. Philips, which has built an additional production capacity of EUR 100 million and has hired dozens of people in the United States to build the equipment, says to work with the US government to find a solution. The group doesn’t want to say if there’s going to be a claim for damages. The United States government can terminate contracts without a back-up.

The group claims to examine whether the production capacity now released can be used to provide other customers with breathing equipment. “The pandemic is not over yet.”The sudden end has no effect on employment at Philips in the Netherlands. No breathing equipment is being built here. However, this year’s profit margin will be lower than expected, according to the group leadership. Earlier a slight increase was expected, now the margin is expected to be the same this year as in 2019.

It is possible that a conflict over the price of the devices is the reason for the sudden withdrawal of the order. Last month, the Committee on budgets of the House of Representatives stated that Philips was asking too high a price for his equipment and that the US Department of Health had negotiated poorly. Philips denies it increased the price of his breathing equipment.

Share

No Comments

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Previous Post

TUI flight 6215 quarantined…

In Domestic Affairs

TUI flight 6215 quarantined due to seven cases of COVID infections

View Post

Next Post

Uniliver puts one billion euro…

In IT, Innovation and Startups

Uniliver puts one billion euro in green tech

View Post

In IT, Innovation and Startups

Guest workers beware: this autonomous robot can pick up to 25,000 raspberries a day

View Post

In Domestic Affairs

EU wants to capitalise on Northern Ireland elections, the UK is planning to counter it

View Post

In Domestic Affairs

Boris Johnson reignites Brexit row as Brussels goes offensive

View Post

Newsletter

Latest News

View

Boris Johnson reignites Brexit row as Brussels goes offensive

16th May 2022

View

Guest workers beware: this autonomous robot can pick up to 25,000 raspberries a day

13th May 2022

View

EU wants to capitalise on Northern Ireland elections, the UK is planning to counter it

11th May 2022

View

G7 countries impose the new sanctions on Russia: ban on rare metals and oil trade

9th May 2022

In IT, Innovation and Startups

CMA investigates P&O/DFDS deal

View Post

In Domestic Affairs

Crisis at P&O Ferries could affect independent UK retailers

View Post

In Domestic Affairs

Authorities seize one of P&O Ferries ships

View Post

UK inflation

In Money Matters

BOE struggles to maintain momentum, stuck between inflation and debt purchases

View Post

Recent Posts

  • Boris Johnson reignites Brexit row as Brussels goes offensive
  • Guest workers beware: this autonomous robot can pick up to 25,000 raspberries a day
  • EU wants to capitalise on Northern Ireland elections, the UK is planning to counter it
  • G7 countries impose the new sanctions on Russia: ban on rare metals and oil trade
  • Oleg Bakhmatyuk is hiding in Austria while UkrLandFarming, VAB Bank go bankrupt

Recent Comments

  • Michael Bazevson on David and Josh Baazov: The Story of King of Poker and Master of Frauds
  • Rob Renton on Ripple (XRP) Price Prediction 2022: bright product with some dark spots on it
  • Mick on Ripple (XRP) Price Prediction 2022: bright product with some dark spots on it
  • MikeBreen on Ripple (XRP) Price Prediction 2022: bright product with some dark spots on it
  • linda on Ripple (XRP) Price Prediction 2022: bright product with some dark spots on it

Archives

  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017

Categories

  • Domestic Affairs
  • Foreign Affairs
  • IT, Innovation and Startups
  • Money Matters

Meta

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org

Allow us to introduce ourselves

Talk-Finance.co.uk, the analytic media. We are focused on the fresh business, M&A and financial data. We pay attention to the interesting new projects and startups while not letting the whole picture to let unnoticed.

  • Investing.com

Sign Up for Our Newsletter

Our friendly crew

  • Chris Kimble, the managing Editor
  • Matthew Weller, webmaster&technical stuff
  • Charles Sizemore, author
  • David Stevenson, author
  • Helen Rush, author

Contact us by [email protected]

© 2019 Talk Finance - All Rights Reserved. [email protected]