The joint venture puts us in a clear cost-leadership position in a mature market,

Its seems the worst slump in recent business history is behind us now, and the we begin to see the start of a new upturn in the business cycle, ... We are encouraged by the improved performance in many of our businesses, especially in semiconductors and components.

Focus on costs and asset management clearly remains the best course, given the fragile market conditions,

Thanks to solid underlying performance during the quarter, we are on track with our financial targets and delivering on our commitments.

After a slower first half year, we are pleased to see growth across Philips has picked up in the third quarter as we improved our profitability,

By reducing the cost base drastically we will be able to realize market presence with greatly reduced exposure,