Philips makes big push in India, launches new productsMarch 20th, 2009 - 4:56 pm ICT by IANS
By James Jose
Panaji, March 20 (IANS) Philips Electronics India Friday gave a big push to its expansion in the country by launching over 150 new products in the lighting and home decorative sector and a new line of home healthcare products.
With demand slowing down in its key lighting and electronics sectors, the company is now planning to expand its medical equipment business. The launch of the Respironics product category in India is part of this strategy, Philips India chief executive Murali Sivaraman said.
“Our healthcare portfolio has grown three-fold over the past few years, though lighting still contributes about 60 to 70 percent of the business,” Sivaraman said.
“The Philips Respironics product portfolio will significantly drive our growth in healthcare both in the hospital and in the home,” he added.
The parent company, Royal Philips Electronics of The Netherlands, acquired the US-based Respironics Inc, a leader in respiratory healthcare products, for a whopping $5 billion in 2008 as part of its strategy to achieve a leading position in the high growth sector.
Taking this strategy forward, Philips India acquired two Indian X-ray imaging companies in 2008 - Alpha X-Ray Technologies and Meditronics.
“India is the first country where the Respironics portfolio has been introduced since its acquisition,” said Sivaraman.
He added that the company would expand its other businesses in the Indian market also.
Philips India is planning to launch over 850 products in the lighting and home decorative portfolio by the year-end.
At present, the home decorative lighting business is growing at 25 percent per annum in India.
“The market is currently inundated with unbranded cheap imports that do not always satisfy energy efficiency and safety norms,” said Mathew Job, Philips India senior marketing director (lighting).
The parent company had acquired partners in Lighting International, a leading European manufacturer of home luminaires in 2006 to increase its presence in the emerging markets.
Added Sivaraman: “The launch of home decorative lighting range is a strategic move for Philips as it allows us to participate in a new promising area of lifestyle lighting solutions.”
The lighting product range starts from Rs.250, while the high-end products would be priced up to Rs.20,000.
The company has also introduced its aluminium range of the domestic appliances in India. The range consists of juicers and blenders.
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