Philips restructures CTV portfolio

NEW DELHI, MAY 19. The Dutch electronics giant, Philips, today announced restructuring of its colour television (CTV) portfolio by focussing on large-screen models of 29-inch and above against the mass 20 and 21 inch segments to cater to the fastest growing industry segment.

The Senior vice-president (consumer electronics) Philips India, Mr. Rajeev Karwal, said, ``In the current recession, large- screens of above 29 inch are the growth drivers. Philips India has decided to focus on these categories to build volumes''.

He said the large-screen models contributed as much as 25 per cent to the total CTV turnover of the company against an industry share of 10 per cent.

``Later in the year, we will cover up some weaknesses of the 14 and 20 inch models. I see Philips pushing the growth button in CTVs by the end of the year and we hope to more than make up the lost marketshare position," Mr. karwal said.

He also asserted that the loss-making consumer electronics (CE) division of Philips was well on the growth path, ``with losses in the first four months of this year being one-tenth of what they were in the same period last year. The Philips CE division has grown by 30 per cent".

- PTI

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