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Philips lines up a slew of new product launches

Buoyed with the success of launching 25 new products in audio segment last year that helped in maintaining leadership position, Philips India Limited plans to introduce a series of new product lines in colour television segment this fiscal.

Company sources said these apart, new value added features; product performances and quality would be pursued to regain its leadership in colour television segment.

Monitors, speech recognition technologies, communication and security systems were among the new categories that would be added to the existing portfolios, sources said.

The oldest and the most respected in electronics sector, especially in lighting, the company which had already indicated not to compromise with price despite competition, as margins and profitability were lower last year despite achieving a volume growth much higher than the market average in the 21 and 29 inches segments, will also focus to further improve leadership in audio segment.

It had launched over 25 new products in audio segment last fiscal and had maintained leadership position despite dwindling market size. The total realisation from audio segment in 1999 had come down to Rs 2.65 billion from Rs 2.99 billion in 1998 while that of television receivers increased to Rs 4.09 billion from Rs 3.66 billion.

However, the number of units sold in both the segments had come down significantly, sources added.

Sources said despite a thrust on audio and television segment, lighting, the oldest division, continues to be its core area and it was proved once again when it achieved a much higher growth than the industry average despite sluggish demand from the commercial and industrial sector.

Realisation from the division was not very much lower than the consumer electronics d vision and contributed about 35 per cent in total turnover in 1999.

Meanwhile, the management of Philips India was yet to take a final decision regarding its project business in the country after Koninklijke Philips Electronics NV, or KPENV, holding 51 per cent stake in Indian arms, announced in August last year its intention to divest this business globally.

Sources said despite a thrust on audio and television segment, lighting, the oldest division, continues to be its core area and it was proved once again when it achieved a much higher growth than the industry average despite sluggish demand from the commercial and industrial sector.

Realisation from the division was not very much lower than the consumer electronics division and contributed about 35 per cent in total turnover in 1999.

Meanwhile, the management of Philips India was yet to take a final decision regarding its project business in the country after KPENV, holding 51 per cent stake in Indian arms, announced in August last year its intention to divest this business globally.

UNI

Business