January 24, 2017

In the news: How Philips is driving the Circular Economy

Circular Economy is part of Philips’ daily business and a driver for innovation aimed at improving the lives of three billion people by 2025. 


Many of Philips’ new propositions support the circular economy; current waste recycling rate is at 81%; the company is getting most of its energy from renewable sources; two-thirds of total sales revenues comes from green products. As a result, Philips was named Industry Leader in the Diversified Industrials category in the 2017 Dow Jones Sustainability Index for the third year in a row. 


Philips is developing new business models that move from traditional transactional to long-term meaningful and performance based relationships with end-users. In addition, Philips is growing its refurbished systems business in healthcare. In the facility in Best Philips is refurbishing diagnostic and surgical imaging systems as well as patient monitoring solutions. Under this program, pre-owned equipment is converted into ‘as-new systems’ with full warranty and re-configured to customers’ needs by using the renewed components, latest software releases and updates. 


Spanish national television TVE recently visited the location to make a documentary on industry examples on Circular Economy.


You will find the part on Philips around 28 minutes into the program. 


Media assets

Press releases

Get our press releases by e-mail

Share on social media

  • Link copied

Our site can best be viewed with the latest version of Microsoft Edge, Google Chrome or Firefox.