9,066 $m
With the arrival of CEO Frans van Houten in 2011, Philips began to sharpen the focus of its business. After parting ways with its struggling television arm last year, Philips saw a sales boost in healthcare and lighting, especially in emerging markets. Philips plans to fully concentrate its business structure around its core brand idea: improving people’s lives through meaningful innovation. Emphasizing its commitment to this notion, Philips launched a successful global brand advocacy campaign in June 2011. It also kicked off a comprehensive performance improvement program internally called “Accelerate!” which aims to create an agile and entrepreneurial Philips — a company which is more customer-centric and focused on local market needs. By continuing to deliver solutions that are technologically advanced and easy to use, and by leveraging its well-established consumer associations, Philips is all but assured to achieve its vision of improving the lives of 3 billion people a year by 2025.