Philips CEO highlights innovation as driver for profitable growth


Frans van Houten showcases new products and technologies at celebration of 120th anniversary

September 27, 2011

 

Eindhoven, the Netherlands – Today, Frans van Houten, Chief Executive Officer of Royal Philips Electronics (NYSE: PHG, AEX: PHI), will reinforce innovation as an important driver for profitable growth. In his speech at the start of the Philips Innovation Experience in Eindhoven, Mr. Van Houten will demonstrate how the company has improved people’s lives since Philips was founded in Eindhoven in 1891.

 

“Innovation is our lifeblood,” Mr. Van Houten will emphasize in his speech. “Going forward we will increase our investments in bringing meaningful innovation to improve people’s lives. In our 120-year history, Philips’ portfolio has changed profoundly, but innovation has always remained and will remain the cornerstone of our strategy, regardless of the economic situation. Philips has the right portfolio to address key societal issues, such as ageing populations, improving the livability of our cities, promoting healthy lifestyles and a more sustainable world. Our innovations will enhance the competitiveness of our business customers and will attract consumers to enjoy a better life. Benefitting from these trends will allow us to grow profitably, both in mature and emerging markets.”

 

During the Innovation Experience, Philips will highlight its latest innovations, such as solutions for minimally invasive treatments in cardiology (HeartNavigator) and oncology (HIFU-MRI), RéAura, the revolutionary laser skin rejuvenation system and CityTouch, an energy efficient outdoor lighting management system that enables intelligent and flexible control of LED based street lighting on a city-wide scale. At the same event, Philips will also unveil exciting new products in its innovation pipeline.

 

“I intend to drive innovation with more intensity to help us win new customers,” said Mr. Van Houten. “Philips has deep research and engineering competences and we are constantly looking to attract the brightest talent to do amazing things together. We will combine meaningful innovation with an eagerness to win and courageous decisions. By delivering on this with perfect execution, Philips will be so much more successful. The products and technologies in today’s Innovation Experience embody the kind of Philips I envision, where we excel in innovation and customer intimacy.”

 

For more details on the Innovation Experience, a media and stakeholder event that will take place in Eindhoven today, please visit www.philips.com/innovation.

For further information, please contact:

Steve Klink

Corporate Communications

Tel: +31 20 5977 415

E-mail: steve.klink@philips.com

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About Royal Philips Electronics

Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is a diversified health and well-being company, focused on improving people’s lives through timely innovations. As a world leader in healthcare, lifestyle and lighting, Philips integrates technologies and design into people-centric solutions, based on fundamental customer insights and the brand promise of “sense and simplicity.” Headquartered in the Netherlands, Philips employs over 120,000 employees with sales and services in more than 100 countries worldwide. With sales of EUR 22.3 billion in 2010, the company is a market leader in cardiac care, acute care and home healthcare, energy efficient lighting solutions and new lighting applications, as well as lifestyle products for personal well-being and pleasure with strong leadership positions in male shaving and grooming, portable entertainment and oral healthcare. News from Philips is located at www.philips.com/newscenter.

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Forward-looking statements

This release may contain certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.

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