Philips expects its TV devision to report pretax losses of €100m - €120m for Q1 2011-- a record for the compnany.

While last December the company was hoping for its TV activities to restart making a profit in 2011, it now doubts they'll even manage to break even-- marking the TV division's 5th consecuitive annual loss. In Q4 2010, it recorded pretax losses of €67m.

Philips TV prices fall by almost 15% in Q1 (from Q4 2010's), while inventories fail to return to normal level.

The company's Q1 2011 earnings call is set for April 18.

Go Philips Provides Update on Financial Results Development in its TV Business