Philips CEO sees strong recovery in consumer demand in Europe

Dutch health technology company Philips has seen a strong rebound in consumer demand in Europe during the second quarter as lockdowns were relaxed, Chief Executive Frans van Houten said on Monday.

“In Europe we have seen a strong recovery of consumer demand. Perhaps even a even a bit better than we had anticipated. So that bodes well”, van Houten told reporters.

The recovery of demand in China had stagnated after an initial surge when lockdowns were eased, the CEO added, due to the overall economic slowdown in the country.