Chip demand for phone and web devices boosts profits
Philips and Novellus are quids in
Chip tool maker Novellus saw profits grow almost fourfold in its third quarter as chip makers bought its equipment to meet demand for mobile phones and web devices.
The company makes tools that put circuits on semiconductors. Net income rose to $85.3 million from $21.8 million a year ago. Sales more than doubled to $359.1 million from $154.9 million.
Dutch consumer electronics company Philips has said third quarter profit more than doubled on the back of sales of chips for mobile phones and digital devices. Net income rose to 771 million euros ($655 million) up from 331 million euros a year earlier.
Sales rose 21 per cent to 9.37 billion euros ($7.96 billion). Chip sales rose 55 per cent to 1.82 billion euros. ®