Philips eyes Bharat to win over India
Dutch electronics major Philips Electronics plans to adopt a "Bharat" strategy to target rural India to strengthen its base. HT reports.business Updated: Dec 22, 2010 22:06 IST
Dutch electronics major Philips Electronics plans to adopt a "Bharat" strategy to target rural India to strengthen its base.
The company is looking at product innovations to address specific needs of rural consumers to gain a stronger foothold in the country over the next five years.
"An array of products such as our newly-developed solar lanterns or a compact fluorescent lamp (CFL) that can withstand severe power fluctuations will be more pertinent to a consumer in the hinterlands," said Rajeev Chopra, managing director-designate, Philips India.
"We aim to cement our position in the rural markets over five years and customised product offerings will play a major role in this endeavour," he said.
"We wish to provide our brand experience around sense and simplicity," Chopra said.
The rural foray marks an important shift in strategy for Philips, which is responding to stiff competition from Japanese and Korean firms.
Last year Philips India spent over R240 crore on R&D.
First Published: Dec 22, 2010 22:03 IST