The Netherlands-based electronics and durables player Philips on Monday announced the launch of modular switches for the first time in India as part of its strategic focus on emerging markets.
"India's modular switch market is expected to grow by 20 per cent over the next year. We are ideally poised to tap this growth because of our leadership is lighting segment. The introduction of Philips modular switches complete our broad range of consumer lighting solutions," Philips India Chief Executive Officer Murali Sivaraman told reporters in New Delhi.
The company said the modular switches are priced between Rs 90 and Rs 150 each, and have added features like USB charger, FM radio and sockets.
"The product range was developed in India for local market needs and further expand the company's broad range of consumer solutions," Sivaraman added.
Philips India is a wholly-owned subsidiary of the Dutch player Royal Philips Electronics.