Philips - im­prov­ing life­styles

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Philips re­cently held a me­dia sum­mit in Sin­ga­pore to pro­mote its three ma­jor ar­eas of op­er­a­tions, namely light­ing, health, and con­sumer life­style. Me­dia rep­re­sen­ta­tives from the ASEAN re­gion were in­vited to at­tend the con­fer­ence. Peo­ple in Pak­istan are well aware of Philips and have used its prod­ucts for decades.

Com­ment­ing on the repo­si­tion­ing of the com­pany as a di­ver­si­fied global health and well-be­ing com­pany,Asad Ja­far, CEO, Philips, Pak­istan, said, “We kept a low pro­file be­cause of our global re­struc­tur­ing and repo­si­tion­ing. When we moved away from TVs in Pak­istan, we needed to re­struc­ture our busi­ness.” Philips says that to up­hold its tra­di­tion of tech­no­log­i­cal ad­vance­ments and in­no­va­tion, it spent nearly seven per­cent of its sales on re­search and devel­op­ment in 2011.

Philips re­it­er­ated at the sum­mit its com­mit­ment to im­prove health and well-be­ing in Asia Pa­cific by launch­ing The ‘+’ Project which is a com­pre­hen­sive, multi-year pro­gram that aims to iden­tify day-to-day health chal­lenges and ad­dresses them through co-cre­ation, crowd sourc­ing and mean­ing­ful in­no­va­tion. The project in­tends to achieve col­lab­o­ra­tion be­tween the pub­lic, cor­po­rate sec­tor and gov­ern­ments to im­prove peo­ple’s health.

The global sales of Philips was 22.6 bil­lion eu­ros in 2011 where light­ing so­lu­tions com­prised 34 per­cent of sales while con­sumer life­style and health­care di­vi­sion rep­re­sented 26 per­cent and 40 per­cent, re­spec­tively. One of the mile­stones achieved by Philips is The Sin­ga­pore Learn­ing Cen­tre which is a 12 mil­lion euro fa­cil­ity spread over 37,000 square feet and features the lat­est med­i­cal di­ag­nos­tic equip­ment.

Philips of­fers in­no­va­tive prod­ucts that suits the needs of its cus­tomers and one of its pri­mary ef­forts is in the health­care sec­tor. Talk­ing to the me­dia, Har­jit Gill, Head of Asia Pa­cific in Sin­ga­pore said, “Given the cur­rent de­mo­graph­ics, an es­ti­mated 60 per­cent of peo­ple liv­ing in the Asia Pa­cific re­gion will be over 65 years of age by 2050. We want to specif­i­cally tar­get pop­u­la­tions and stake­hold­ers – even by fund­ing health­care in re­gions such as ASEAN, where health­care is pri­mar­ily pri­vately funded – in or­der to make health­care ac­ces­si­ble and af­ford­able for all.”

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