Royal Philips Electronics has announced its new five-year plan that builds on its 'Vision 2010' gains and focuses on fuelling growth besides enhancing the brand preference and market leadership.

Outlining the strategic ‘Vision 2015’ plan, Philips president and chief executive officer Gerard Kleisterlee said, 'Our plan is an evolution of our 'Vision 2010' strategy. We will continue to build on major global trends to expand our leadership in key businesses such as home healthcare, LED lighting solutions and healthy living and personal care.'

'I firmly believe Philips is uniquely positioned for growth as it continues to simply make a difference to people’s lives with meaningful, sustainable innovations,' Kleisterlee said.

Philips will aim to further strengthen its leadership in the domain of health and well-being, he added.

According to Kleisterlee, the company will detail its key priorities, market opportunities and investment focus areas for the coming years.

'Vision 2015 aims to fuel growth and bolster Philips’ competitive position in key markets, benefitting all the company’s stakeholders in a sustainable way,' he noted.

“It has become customary for Philips to periodically provide our stakeholders a roadmap of how we want the company to develop,” he added.

Vision 2015 defines several company-wide key priorities for the next five years, said Kleisterlee.

These include expanding its existing leadership positions whilst benefitting from several of its markets growing faster than global GDP and becoming the preferred brand in health and well-being in the majority of the markets besides being a leading company in matters of sustainability, he observed.

Kleisterlee said Philips wants to be seen by all stakeholders as making a positive difference in people’s lives.-TradeArabia News Service