KOLKATA: Philips will maintain its focus on consumer electronics in India despite the company planning an exit from the segment globally in order to specialise in B2B businesses such as healthcare and lighting.
The company will actually extend its reach to multiple consumer categories in India such as air purifiers, coffee makers, electronic oral care products, said Philips India vice chairman and managing director Krishna Kumar. It will even enter fast-moving consumer goods (FMCG) by introducing baby skincare products to consolidate its presence in the space.
Kumar said the brand will target either the number one or two slots in each of these categories in India.
“In India, Philips’s consumer business is the largest, contributing 55 per cent to sales as compared to the B2B portfolio, which accounts for 45 per cent of sales,” Kumar said. “This is in sharp contrast to the global scenario where B2B products contribute 65-70 per cent to sales with the balance coming from consumer products.”
Philips has exited the television business globally and licensed the brand to VideoconBSE 5.47 % for the Indian television market. Last year, it exited the home entertainment business. The consumer business has shrunk globally, although in India Philips has market leadership in kitchen appliances such as toasters, juicers and electronic personal care products including shavers and epilators. —PTI