Siemens also benefited from a 48 percent jump in sales of renewable energy equipment like wind turbines, to 977 million euros ($1.34 billion ), more than offsetting a decline in products for fossil fuel generation.
Siemens also benefited from a 48 percent jump in sales of renewable energy equipment such as wind turbines, to €977 million, more than offsetting a decline in products for fossil fuel generation.
Ron Slaymaker, the company's vice president of investor relations, said it had emerged from an inventory glut, and that sales of high-performance analog products were helping to offset declines in other products.
The company is also known for avoiding rotten products and for retroactively applying any decline in product prices to existing customers as well as to new ones.
Although they often disagree fundamentally on the details, other commentators have begun drawing much broader conclusions from the decline in product quality controls and safety, saying they reflect profound changes at work in Japan.
Micron Technology tumbled and took the semiconductor sector with it, after saying its loss widened due to a 12% decline in product pricing.
This is consistent with the findings of Bewley (1999), who showed that the majority of layoffs are implemented in response to reduced demand for labor because of a decline in product demand.
The weakness reflected declines in petroleum products, a drop that was related to declines in energy prices during the month.
These gains offset declines in licensed products, like Harry Potter toys and games, which were off 12percentt in the fourth quarter, to around $140 million, said Linda Bolton Weiser, an analyst at Fahnestock & Company, an investment bank in Manhattan.
Here's another one of the rough excerpts from the note published by CNBC: "We think new smartwatches will be outweighed by declines in legacy products, while software opportunities in health coaching will take time to ramp".
