Philips transforms its healthcare business with a revenue share of 40%

Philips, one of the world's largest electronics companies, has successfully transformed its healthcare business. He Dana, senior vice president of the Philips Group Research Institute, said, "The situation that outsiders may not know much is that now our company's three business segments: lighting, quality of life and health care, the biggest business is health care, has occupied us About 40% of income."

Philips Global CEO Marriott has recently told the media that the company's current business focus shifts from the old lighting industry to the health care. Among them, China, as “another local market”, has high hopes for Philips. In China, the average annual growth of the Philips basic medical market has reached 23%, and the company's growth expectation for this market is one-third of the overall group business.

In addition, China has become the world's largest market for Philips' other major business sector home lighting. As of now, the business has increased by 60% year-on-year, with LED sales doubled. Philips said that in the future, it will strengthen the research and development of localized and differentiated products, expand the sales network from China's first- and second-tier cities to third- and fourth-tier cities, and actively explore new channels to improve the efficiency of retail management.

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