Global reach and wide product diversification, combined with a strong brand name and several world-leading positions. Strong positions in certain stable, cash-generative businesses such as medical systems, lighting, domestic appliances, and personal care. Very solid financial flexibility enhanced by a substantial amount of disposable, listed financial assets. Exposure to the seasonal and competitive consumer electronics sector, in which profitability has not been sufficiently stable. Exposure to inconsistent operating performance in certain divisions, product segments, and geographical markets due to macroeconomic performance and competition. The ratings on The Netherlands-based diversified technology group Koninklijke Philips Electronics N.V. (Philips) reflect the group's global reach and wide product diversification, combined with a strong brand name and several world-leading positions; its strong positions in stable
