‘India is a must-win market for Philips’

Philips India is set to pamper consumers with new-generation personal-care products, and home appliances. It will also unveil diagnostic equipment for the healthcare segment.

With products such as Robotics floor cleaner, AirFryer and induction cook-tops, the company sees personal-care and healthcare presenting a huge opportunity for growth. Krishna Kumar, Vice-Chairman and MD, Philips India, told Business Line how various elements of the India strategy have been laced together for the next growth phase. Excerpts:

How does Philips look at the opportunity in India?

India is an important opportunity and a must-win market for Philips. We are number one or two in every segment (across three broad segments and 40 businesses).

We have a large R&D, engineering and manufacturing capability in India, placing us in an advantageous position to leverage the market potential. The company has re-architected itself to focus on some broad areas such as lighting, healthcare and consumer lifestyle.

All these present a big unfolding opportunity for a diversified player like Philips.

The lighting division seems to be growing at a rapid pace. What are some of the new initiatives?

In the lighting business, we are an end-to-end company. Philips is referred to as the second biggest source of light after the Sun. The growth has come from continued channel expansion and increased extraction from the existing areas in the consumer segment and new areas in the professional segment.

The company has invested about $15 million in Philips Lighting and Innovation Centre in India, where more than 150 LED-based lighting products and solutions have been developed. The focus is on developing locally-relevant products and to facilitate consumers to switch to LED .

How is Philips addressing the healthcare segment?

Philips is a major player in the healthcare segment spanning small devices, medical equipment, diagnostic devices and large equipment for diagnostic centres and hospitals. The company increased its market share to become the number one player in the healthcare segment. This includes imaging systems, patient monitoring, sleep therapeutic devices and non-invasive ventilators for respiratory care and cathlabs.

You have launched several new products in the consumer lifestyle segment. How is the business outlook?

India has a large population base of youth, which gives us a big opportunity.

While the sector focus is to strengthen the market, there is plenty of scope to tap into businesses in kitchen appliances, garment care and hair care and grooming.

In the healthcare and wellbeing segment, Philips launched AirFryer based on raid air technology that uses fast circulating hot air to create fried food without the use of oil.

One can make a samosa without oil. This product has been an instant hit.

Similarly, grooming products are becoming popular as youth are increasingly investing in this segment. In the garment care segment, the company has strengthened its market share by driving conversion of dry to seam irons.

rishikumar.vundi@thehindu.co.in

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