Philips India to reorganise in 12 to 18 months
By Avishek Rakshit |Kolkata| Business Standards | Vjmedia Works | September 26, 2014
Philips India, a subsidiary of Royal Philips of Netherlands, expects to spin off its lighting and healthtech business into separate entities
Stating that Philips India was equally focused on the business-to-consumer (consumer and lifestyle lighting) and business-to-business (health care) portfolios,
A Krishnakumar, vice-chairman and managing director, said," Fifty-five per cent of our sales come from B2C business and 45 per cent from B2B business.â€
"Lighting and health tech contributes equally to the company's revenue,â€ he added. In India, health care and consumer lifestyle businesses were already operating under a single division.
"We have decided to move towards preventative health care rather than curative and will extensively focus on R&D sector to boost our innovation portfolio,â€ he said.
It has recently entered the fast-moving consumer goods sector, launching mother and child care products under Philips Avent.
On the importance of the lighting business he said, "Since the world is moving towards energy-efficient lighting, our primary focus is shifting from source lighting to decorative lighting and LED transformation.â€
He also said Philips India would be an integral part of the governmant's Make-in-India intiative by ramping up its manufacturing activities in the country. The company currently has four manufacturing hubs in Bangalore, Noida, Pune and Chennai.