Indicating that business at Philips India would remain the same after the proposed global restructuring, its Vice- Chairman and Managing Director Krishna Kumar said that the Philips Innovation Campus (PIC) in Bangalore had begun playing a major role in worldwide product development .
“Over the last 18 months, PIC has developed eight products which have been launched globally,” he said adding that this included a compact ultra-sound device whose portability would enable it to be used even in a rural health care centre.
PIC would focus on healthcare to support Philips’ inorganic growth in various geographies.
PIL’s India business is split equally between its lighting solutions division and healthcare and technology division. “It will be split into two entities by 2016 once all the regulatory approvals are received,” he said. PIL’s turnover was around Rs.6,000 crore. He said that the company was now moving from curative health to preventive health. The company’s future strategy here was to focus on LED transformation, expansion of retail footprints and reaching out in Tier II cities, Mr. Krishnakumar said.
