Philips Electronics India today said it is eyeing a growth of over 20 per cent this year as part of its strategy to double its sales by 2010.
“We are seeing growth between 20 and 30 per cent this year across all our sectors, including consumer lifestyle, healthcare and lighting, which will be above the industry’s growth,” Philips Electronics India Chief Marketing Officer Vivek Shem said.
According to him, healthcare sector is growing at 16-18 per cent, lighting at 12 per cent and lifestyle at 12-18 per cent in the country.
Revealing the company’s ‘Vision 2010’ strategy, he said the company has decided to renew its focus on core sectors in order to fuel growth from India’s operations so as to double its turnover by 2010 from the sales of 2007.
The company posted sales of Rs 2,900 crore in 2007.
As part of the company’s new initiative, the corporate offices are also being moved to a new location in Gurgaon. This move will integrate all existing business offices at Pune, Delhi and Mumbai and it is likely to be completed by the end of 2008. “A unified corporate office will help to further integrate business processes and leverage scale across the organisation,” he said.
