Europe's biggest consumer electronics firm Philips has warned that it will make less revenue as the economic downturn takes its toll.
Chief executive Gerard Kleisterlee said the downturn was "faster" and "deeper" than expected and was without "recent comparison".
Sony, Sharp and Panasonic have also warned that profits could be hit.
US chipmaker AMD warned on Thursday that its fourth-quarter revenue would drop by about 25%.
Philips said that its lighting and consumer products were the hardest hit.
The company also said it would write down the value of its stakes in LG Display and NXP, formerly Philips' semiconductors arm, taking a charge of 1.1 billion-euro ($US1.4 billion).
Philips cut sales targets for its lighting, health care and consumer electronics divisions and said it would not meet a target of doubling operating earnings by 2010.
