Koninklijke Philips, a maker of consumer and professional medical devices released Q4 results, reporting a 17.6% year over year fall in revenue that was 0.4% higher than analyst expectations. Panjiva data associated with the firm shows that seaborne imports fell by 2.9%, while inventories increased by 18.3% in the same period. Part of this may be explained by CEO François Adrianus van Houten, who on the firm’s January 24 call noted that they “have partially moved to alternate modes of transport to bypass reliance on ocean freight and port congestion.” Mr. van Houten also noted challenges...