Bets on Bangalore innovation campus
To expand its product portfolioTo make a major foray into rural India
BANGALORE: Royal Philips Electronics will go aggressive in its marketing efforts in BRIC countries (Brazil, Russia, India and China) by introducing next generation products.
Disclosing this here on Thursday at the tenth anniversary of Philips Innovation Campus (PIC), the Chief Executive Officer of Philips Consumer Electronics, Rudy Provoost, said BRIC countries were the real emerging markets, reflected by their economic boom.
Philips would expand its product portfolio by offering next generation products in flat and LCD televisions, home theatres and other entertainment solutions, apart from medical and healthcare equipment. It had prepared a business model to make a major foray into rural India, which offered great potential in consumer electronics and healthcare equipment.
Mr. Provoost said Philips Electronics banked heavily on the innovation campus here for developing software for various next generation electronic goods the company was planning. The campus, with over 1,700 professionals, would continue to be a major hub of innovation for not just Philips but for other global companies.
"PIC has produced four patents last year and 13 so far this year and we are targeting to produce seven more by the year-end. Rightly, we have located our new and ambitious NXP Semiconductors in this campus," he said.Mr. Provoost said the PIC would be strengthened further to ensure that the company's market offerings would be the best.
Philips is the market leader in LCD TVs and DVD products. "Our mix of R&D spending is shifting from mechanical and hardware to software and digital technology in tune with the emerging technologies,'' he said.
Philips Consumer Electronics India Vice-President S. Nagarajan said Philips had chalked out a roadmap to increase it share of CTV from six per cent to ten per cent and would continue to be robust in the audio (a market-share of 40 per cent) and home theatre segment (50 per cent).