Philips Focuses On Health Care And Lighting Business
This article was originally published in PharmAsia News
As part of its ongoing transformation and restructuring, Philips has spent almost $20 billion on large-scale acquisitions in the health care and lighting sectors in recent years. Compared to the corporation's global market, Philips China has a lower ratio of health care and lighting business, thus it intends to expand the two areas. Inside sources explain that self-development will not allow the company to meet the two sectors' rapid growth, while acquisition can save time and scale up quickly. Philips will seek breakthrough in the mid- and low-end medical device market, which occupies some 75 percent of the China market. The Dutch company, GE and Siemens are leading players in the high-end medical device market. (Click here for more - Chinese language)
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