Philips focuses on innovation, new markets

STRONG emphasis on innovation and increased focus on emerging markets have been identified by Royal Philips Electronics president and CEO Gerard Kleisterlee as two key ingredients for the company’s success. 

With the acceleration of the innovation-to-commoditisation cycle, companies that are already investing heavily in research and development (R&D) now even have to work harder before copycat producers, called “fast-followers”, catch up. In his speech at a Kuala Lumpur seminar yesterday, he cited various examples for this.