Philips Plc, the number one player in global lighting, and one of the leading brands in consumer electronics, female and male grooming (in fact, leading in the male shaving sector) and garment care, has reinvented itself many times since the company was founded in 1891.
Responding to the market trends which indicate that 45% of consumers are interested in both wellness and pleasure while shopping for electrical products, Philips has reorganised itself accordingly to focus on the areas of the greatest market opportunity. The company now has three main divisions: Lighting, Consumer Lifestyle (incorporating consumer electronics and domestic appliances) and Healthcare.
While focusing on consumer-centred innovations, Philips plans to launch 200 new products in 25 categories in 2008. In consumer electronics the product innovation will focus on improving consumer viewing experience and design. At the same time the company intends to submit approximately 1,000 new products for testing and review to various testing institutes. This investment will be supported by a £7 million consumer advertising campaign. Also Philips’ sponsorship of the Williams F1 team is expected to continue.
New consumer focus and more innovations from Philips
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