Dutch consumer electronics company Philips is giving away its decade old advertising campaign "Let's make things better".

In a move to promote its image of a healthcare, lifestyle and technology company, Philips on Monday announced a new brand positioning evolving around the concept of 'sense and simplicity'.

The company will spend euro 80 million on a new and innovative advertising campaign to bring its message to customers around the world.

In a statement issued in Amsterdam, Gerard Kleisterlee, president and chief executive officer, said: "To mark our commitment to this cause from today onwards we replace the old motto 'Let's Make Things Better' that has served Philips well for almost a decade."

In India Philips has three subsidiaries -- Philips India (it sells consumer electronics, lighting and domestic appliances), Philips Medical Systems and Philips Software. The overall turnover of Philips in India is estimated to be around Rs 2000 crore (Rs 20 billion). Recently, the company announced a consolidation of its three businesses under one umbrella.

"With the One Philips strategy of the past years we see the emergence of another company where the marketing of our businesses is more aligned around a specific target audience and therefore we are now at a point where we're able to get more specific for all of them. Now we're able to tell you exactly how we'll execute further change," Kleisterlee added.

The rebranding initiative is part of Philips' management agenda to make the company truly market-driven and get it back on track to sustained, profitable growth, Kleisterlee explained: "As we execute on our mission and go forward with implementing our strategy, Philips will see more and accelerated change.

"The campaign, was developed together with DDB, Philips' global advertising agency. The campaign will be rolled out in Netherlands, Germany, France, Italy, the United Kingdom, the US, China and India.

"In the process we will enter into new markets and create whole new categories. The mix of our activities will continue to change and our new brand positioning has also been designed to guide us through this next phase of our transformation.

"The launch of our brand campaign today draws attention to a changing Philips, and we trust it will change over time the way the world sees and experiences Philips," he said.

Furthermore, Kleisterlee announced the start of a new business group for consumer health and wellness with an ambitious growth target.