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SCOUTING FOR BUYS: Mr Rudy Provoost, CEO, Philips Consumer Electronics (right), and Mr Jelle Rieske, Senior Director, at a press conference in Bangalore on Thursday. — G.R.N. Somashekar

Bangalore , Sept 7

Royal Philips Electronics plans to acquire companies in the consumer electronics space in emerging markets, including India.

"We are evaluating small and medium-scale companies," the Philips Consumer Electronics' Chief Executive Officer, Mr Rudy Provoost, told newspersons on Thursday.

Apart from acquisitions, the company seeks to grow its business in the flat TV, LCD, home theatre and other entertainment sectors, apart from medical and healthcare equipment.

Focus on innovation

Mr Provoost said that while Philips will focus more on innovation, China would be used as a manufacturing hub.

Terming the Philips Innovation Centre in Bangalore as a brain factory for innovation, Mr Provoost said 50 per cent of the software for its consumer electronics products worldwide came from this centre.

"Bangalore will increasingly reflect what Philips is doing in the area of innovation," he said. Mr Provoost was in the city for the tenth anniversary of the innovation centre.

He said Philips enjoyed 40 per cent market share in the audio business and around 6 per cent in the CTV segment.

"We expect to grow this business to 10 per cent as soon as possible," he said.

In the flat TV segment, he said the company wants to be among the top three players.

Philips Innovation Centre has around 1,600 professionals and its software expertise is in the areas of embedded and information system engineering, architecture design, programming and testing. In the consumer electronics space the innovation centre contributes software content for a variety of products apart from participating in product architecture and design level contributions to Philips Consumer Electronics product programmes. Mr Provoost said Philips spends 10 per cent of its global sales in research and development.

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