22.05.12

SHANGHAI -- Philips Consumer Lifestyle (CL) is expected to see a double-digit sales growth rate in the Chinese market in the next two years, Pieter Nota, member of Board of Management of Philips Royal Electronics, said on Thursday.

Nota, also chief executive officer of Philips CL, didn't disclose the specific rate nor give details of how much will be invested in the Chinese market for it.

Philips CL reached global sales of 5.8 billion euros last year, 40 percent of which came from the emerging markets including China, Russia, India and Brazil.

"Among the four, China is a country that created more sales which will grow fast in the next several years," he said.

Philips CL took five percent from the sales as funds for R&D to develop more new products for local markets, making it become a leader in the Chinese market in 15 kinds of products such as shavers, dry floor care, blenders, air cleaners and home cinema sound, Nota said.

"Our strategy is to target our products not only at the coastal cities in China but its second- and third-tier cities," he said, adding that the company is making great effort to enlarge its sales channels in those cities.

[ Via: China Daily | Read more... ]