Philips restructuring on track

Philips’ plan to merge its consumer electronics and health care divisions and split its lighting division into a separate entity is expected to be a success, the company announced on Tuesday.

Speaking at its Capital Markets Day, a meeting with financial analysts and investors in London, Philips CEO Frans van Houten also predicted modest sales growth for 2015.

Focus is now on increasing the company’s profits (EBITA) with the aim of meeting an 11% margin in 2016, despite less than favourable foreign exchange rates and deteriorating market conditions, particularly in China.

Source: Studio040
Translation: Nicola Wood

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