(07-26-2021, 04:54 PM)hegel Wrote: Btreger, your methodology is flawed and so the conclusions you draw are mere speculation.  

You may have missed the rest of my post where I questioned whether all of those complaints will turn out to be related to PR machines. People with health issues will assign all sorts of causes to their troubles; often, they misdiagnose the actual source.

I see no reason to cause unnecessary anxiety. I'll wait for actual research or at least accredited sources using more accurate measurements. Always extrapolating to the worst case seems silly, frankly. In one of the videos put out by a provider that appeared here some pages ago, the speaker said they had had 2 complaints over the years about black particles in PR machines--out of many thousands sold. He wasn't a PR guy, but just trying to assess what we know. So maybe we haven't heard about complaints before now--because there have hardly been any. In other words, there's a chance that news is better, not worse, than we guess or imagine. Maybe we end by breathing a sigh of relief rather than in anguish and despair and anger and grievance.

(07-27-2021, 09:10 AM)btreger Wrote: The fault has shaved almost €10bn off the Dutch group’s market capitalisation as shares have plunged more than 20 per cent since April when the defective part was discovered. Shares fell a further 4 per cent to €39.06 on Monday.

Although investors feared hefty litigation charges would follow a string of impairments totalling €500m, Frans van Houten, chief executive, said only 10 patients had reported mild health issues.

Quote:Reuters
July 26, 2021

Philips has now set aside 500 million euros for the machines, but the threat of litigation in the United States is giving investors nightmares. The company’s market value has fallen by roughly 10 billion euros since Philips disclosed the issue in late April. That’s more than 10 times the unit’s entire annual sales of 600 million euros to 700 million euros. Even so, a further 2% drop in Philips shares on Monday morning suggests van Houten faces more restless nights.
Philips sleep fail gives investors recall insomnia | Reuters

Quote:

Philips has currently lost approximately US$3,150 per recalled device.
Philips initially estimated recall costs of US$170 per device (500M Euros, 4M recalled devices).

(07-27-2021, 09:55 AM)btreger Wrote: Frans van Houten, CEO: April 26,2021


Regretfully, we have identified a quality issue in a component that is used in certain sleep and respiratory care products, and are initiating all precautionary actions to address this issue, for which we have taken a EUR 250 million provision.

 

Regulatory update
 
Philips has determined from user reports and testing that there are possible risks to users related to the sound abatement foam used in certain of Philips' sleep and respiratory care devices currently in use. The risks include that the foam may degrade under certain circumstances, influenced by factors including the use of unapproved cleaning methods, such as ozone [1], and certain environmental conditions involving high humidity and temperature. The majority of the affected devices are in the first-generation DreamStation product family. Philips’ recently launched next-generation CPAP platform, DreamStation 2, is not affected. Philips is in the process of engaging with the relevant regulatory agencies regarding this matter and initiating appropriate actions to mitigate these possible risks. Given the estimated scope of the intended precautionary actions on the installed base, Philips has taken a provision of EUR 250 million.