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Royal Philips CEO: Middle East Is Significant Opportunity to Philips | ASHARQ AL-AWSAT English Archive 2005 -2017
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CEO of Royal Philips Frans van Houten shows a LED bulb which can be controlled directly from an iOS or Android device, during the presentation of the 2012 full-year results in Amsterdam January 29, 2013 file photo. REUTERS/Toussaint Kluiters/United Photos


Royal Philips CEO: Middle East Is Significant Opportunity to Philips

by | Mar 23, 2017 | Business |

Royal Philips CEO: Middle East Is Significant Opportunity to Philips

Dubai- CEO of Royal Philips Frans van Houten expressed his ambition to see the company continue in its “highest performance” through achieving 4%-6% growth in sales, adding that the Middle East represents a significant opportunity to Philips given its strong commercial existence and its comprehensive ecological system in the region.

Asharq Al-Awsat asked, “With the current economic approaches, what is the strategy of Philips in the coming period?”

Van Houten replied as follows, “Philips is following a sustainable path of growth and we are in a quest to consolidate our pioneering position in the field of health techniques. This pushes us to do our best to make the world a more healthy and sustainable place through innovation by which Philips focuses on expanding its operations to grasp chances in the market of health care.”

“How was the performance of the company in 2016?” asked the newspaper.

“In general, 2016 was a transitional year when we succeeded to achieve our huge strategic initiatives in transforming Philips into a pioneering company in the field of healthy techniques. Unified sales of the company rose to EUR24.5 billion. Our outcome in 2016 granted us confidence in the future and we are now witnessing several growth opportunities through exploiting our consuming and clinical experiences to provide clients with innovative health solutions,” he replied.

When asked on the challenges facing Philips performance in the future, Philips CEO said the company is keen to expand its operations and seize opportunities in the field of health care techniques that is witnessing a rapid growth regionally and internationally.

Commenting on US President Donald Trump and the international concerns over protectionism, Van Houten stated that the US is Philips biggest market worldwide and has a high importance to the company. “Despite that US markets are passing through some uncertainty but we are committed to these markets and proud of them,” he added.

Finally, Royal Philips CEO answered a question on the internet of things saying that “We, in Philips, believe that the internet of things has become a focal point by which we think of ways to innovate and fulfill needs of our clients as well as the way we deal with them and get inspired by them.”