Word: divisional
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One big result of Kleisterlee's decision is that two separate divisions supplying retailers--DVD players were churned out by the Consumer Electronics (CE) business, for instance, and electric razors were sold by the Domestic Appliances and Personal Care unit--have been joined into a single Consumer Lifestyle business. Similarly...
Vital signs at Philips' new health-care unit are strong. Imaging technology such as X-rays and ultrasound scanners as well as devices for monitoring patient health helped generate almost a quarter of Philips' sales in 2006; operating profits at the professional medical division soared 17%, to $1.1 billion.
A couple of years spent beefing up its lighting division is causing Philips no such pain. With revenues touching $9 billion in 2007, the company leads the global market--illuminating offices and airports, streets and sports arenas. And with a slew of acquisitions in advanced light-emitting diode (LED) know...
Yet neither consumers nor competitors, damn them, are obligated to think that way, especially when it comes to big-ticket items like TVs. Philips' LCD-TV business is losing money in the insanely competitive U.S. market, under pressure from the likes of Sony and Samsung. Globally, profit margins in the...
Philips says it will differentiate its products through lifestyle-driven innovation. On that score, it's enjoying greater success. In 2006, 53% of group sales came from products launched in the previous three years. That's more than double the level of 2003. Last March, for instance, Philips--in partnership...