Philips eyeing buyouts for emerging markets push

The Netherlands-based Royal Philips Electronics is looking at acquisitions in healthcare and lifestyle space (consumer electronics) in the emerging markets, to broaden its product portfolio.

Moving forward, the company is also looking at expanding its footprint globally and in India in the healthcare and medical equipment space, besides consolidating its position in the audio market in the country.

"We will continue our acquisitions process particularly in healthcare and lifestyle to further broaden complimentarities that fit with ours in consumer electronics space," Rudy Provoost, CEO (global) of Philips Consumer Electronics, said here today.

The company is looking at huge opportunities in the emerging markets, Provoost said. Philips is also evaluating small and medium scale acquisitions in peripherals and accessories part on the consumer electronic portfolio in the emerging markets. "We have been very focussed to drive the growth in emerging markets and this was our prime agenda in our board meeting. We are primarily targeting the markets like Brazil, China, India and Russia and some parts of Asean for the acquisitions," he added.