Philips to double sales

The Netherlands-based consumer electronics company, Philips, plans to double its sales in India to Rs 5,000 crore in the next few years, by focussing on healthcare and lifestyle technology businesses.

"Philips has now a top-notch team in India and has robust business processes in place. The next step will be to adopt the right customer-oriented practices to make Philips India a euro 1-billion company," Rudy Provoost, CEO, Philips Consumer Electronics, said on the sidelines of the ongoing IFA Consumer Electronics Fair.

Having learnt from its past mistakes (the aggressive growth strategy in the 90s that proved counter-productive), Philips has decided to adopt a more balanced approach for businesses in emerging markets.

"In the next two years, we aim to make North American operations profitable and further consolidate in Europe, our home market. India and China are next on our priority list. We are determined to turn India around," said Provoost.

Philips India has about 9 per cent market share in colour TV, with No. 1 position in the flat screen segment, and a 40 per cent in audio systems market.

"Our market share in TV doubled last year to 9 per cent and would penetrate the Asian household appliances market with specially designed products. Philips India is looking to treble its volumes in India," said Gottfried Dutine, executive vice-president and board member, Royal Philips Electronics.

"We'll combine India's rich know-how of consumer wellness with Europe's medical advancements, to capture a big chunk of the high potential of the segment," Dutine added.

Philips is rolling out an electronic gadget for heart patients that will provide information like nutrition regime and blood pressure to patients.

(Philips India sponsored the correspondent's travel)