Philips reinforces focus on emerging markets
29% of Philips sales in the first half of 2009 came from emerging markets, while the company invested 1.6 billion euros on research and development in the preceding year. This was stated by Gottfried Dutiné, executive vice-president, Philips, during his recent visit to India to mark the company’s entry into the modular switches category globally.
“By marrying our R&D spend with a targeted and local approach to consumer needs, we continue to seize new business opportunities in emerging markets,” Dutine said. “Philips is always looking for what’s next in improving the health and well-being of its consumers, with advanced yet easy to use products, for example, the rice cooker range for the Asian market and the Mate’ kettle in countries such as Brazil and Argentina. In India, it was the water purifier, now modular switches and in the near future the cooking area.” Philips has created the Strategic Business Development Group (SBD) in key emerging markets including India, with the responsibility for finding new market opportunities and working closely with the local sectors and Philips Design to create consumer centric products. “India’s modular switches market is expected to grow by 20% over the next year,” said Murali Sivaraman, CEO, Philips India. “We are ideally poised to tap this growth because of our lighting leadership. In fact, the introduction of Philips modular switches completes our broad range of consumer lighting solutions.”The Philips modular switches contain a combination of safety features and are RoHS (Restrictions on hazardous substances) compliant making it environment friendly. In addition to safety features, Philips modular switches bring some of the most unique and innovative concepts to the category. An FM Radio in a socket module is now offered for the first time in India. Consumers can tune into their favourite FM station with the touch of a scan button. Another innovation is the unique USB charger capability of the switch. Smartphones, iphones, portable music devices can now all be charged via the Philips modular switch. Customers no longer have to use cumbersome methods of charging USB port chargeable devices.Priced in the range of Rs90-150 each, the Philips modular switch range is undergoing the patent process and will be rolled out pan India in a phased manner according to a company statement.