Philips CEO highlights innovation as driver for profitable growth

Frans van Houten, Chief Executive Officer of Royal Philips Electronics, reinforced innovation as an important driver for profitable growth. In his speech at the start of the Philips Innovation Experience in Eindhoven, Mr. Van Houten demonstrated how the company has improved people’s lives since Philips was founded in Eindhoven in 1891. 

“Innovation is our lifeblood,” Mr. Van Houten emphasized in his speech. “Going forward we will increase our investments in bringing meaningful innovation to improve people’s lives. In our 120-year history, Philips’ portfolio has changed profoundly, but innovation has always remained and will remain the cornerstone of our strategy, regardless of the economic situation. Philips has the right portfolio to address key societal issues, such as ageing populations, improving the livability of our cities, promoting healthy lifestyles and a more sustainable world. Our innovations will enhance the competitiveness of our business customers and will attract consumers to enjoy a better life. Benefitting from these trends will allow us to grow profitably, both in mature and emerging markets.” 

During the Innovation Experience, Philips highlighted its latest innovations, such as solutions for minimally invasive treatments in cardiology (HeartNavigator) and oncology (HIFU-MRI), RéAura, the revolutionary laser skin rejuvenation system and CityTouch, an energy efficient outdoor lighting management system that enables intelligent and flexible control of LED based street lighting on a city-wide scale. At the same event, Philips also unveiled exciting new products in its innovation pipeline. 

“I intend to drive innovation with more intensity to help us win new customers,” said Mr. Van Houten. “Philips has deep research and engineering competences and we are constantly looking to attract the brightest talent to do amazing things together. We will combine meaningful innovation with an eagerness to win and courageous decisions. By delivering on this with perfect execution, Philips will be so much more successful. The products and technologies at the Innovation Experience embodied the kind of Philips 1 envision, where we excel in innovation and customer intimacy.”