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FINAL TRANSCRIPT

Apr. 14. 2008 / 4:00AM, PHG - Q1 2008 Royal Philips Electronics Earnings Conference Call

So clearly, I would say, there the situation is different. And we are going to work hard on, obviously, improving the numbers of Europe.

But longer term, Didier, I think we've been quite explicit. We have said very explicitly, probably in that same dinner you are mentioning, that as portfolio managers we will continue to look at it with all options open. But at this point of time I will repeat that there is no decision made to do anything, and no plan at this particular point, to make any decision a la Funai for the rest of the portfolio. But looking forward, we keep all the options open. I think that's as clear as I can be, Didier.

Operator Your next question comes from Victor Bareno from SNS Securities. Please limit yourself to one question. Thank you.

Victor Bareno - SNS Securities - Analyst

Yes, hello. With the Funai deal in place and the effect of the additional efficiency measures, do you expect Connected Displays to be profitable again in 2009?

Pierre-Jean Sivignon - Royal Philips Electronics - CFO Absolutely.

Victor Bareno - SNS Securities - Analyst Okay, thank you.

Operator You have a follow-up question from Nicolas Gaudois from UBS. Please go ahead, sir.

Nicolas Gaudois - UBS - Analyst

Yes, just a bit more color maybe on Lighting. You commented on having seen some weakness in Professional Luminaires in Europe. Could you comment a bit more broadly on the overall Lighting business, Luminaires and Lamps, related to [UBLs] both home and commercial, both in Europe and the US. Thank you.

Pierre-Jean Sivignon - Royal Philips Electronics - CFO

Yes, I think basically as far as Lighting is concerned, we saw all-in-all, worldwide strong lamps. I think we had a good growth in lamps, with a bit of a caveat for North America, which we've mentioned.

Luminaires was actually a bit less strong; Luminaires grew 3% and there that was essentially because of the Europe situations. And, as I've said earlier on the call, we'll have to see how that evolves in the course of Q2 because there was certainly careful adjustment of inventory in the channels. And we'll see what the sell out does in the coming weeks and months.

Lighting Electronics did actually very well, so that was quite robust. And Automotive was the one which was probably the toughest with the US situation I mentioned on lamps. Automotive had a slow start of the year, so that is the other one which

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