Philips 2011 Annual Report Download - page 67
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6 Sector performance 6.1.8 - 6.2.1
Annual Report 2011 67
6.2 Consumer Lifestyle
“With Accelerate! we continued on our path to transform
Consumer Lifestyle – reshaping the portfolio for profitable
growth and moving from a functional, centrally led organization,
to an organization built around businesses and markets. We
further repositioned the sector towards the health and well-
being domain, focusing resources to drive global scale and
category leadership.” Pieter Nota, CEO Philips Consumer Lifestyle
Prior years results and cash flows have been restated to reflect the effect of
classifying the Television business as discontinued operations in 2011.
• Achieved strong sales growth in the Personal Care,
Health & Wellness and Domestic Appliance businesses
combined and increased overall market share
• Signed agreement to transfer Television business into a
joint venture with TPV Technology
• Significantly stepped up investment in Advertising &
Promotion and Research & Development
• Refocused Lifestyle Entertainment portfolio on growing
categories, achieving profitability for the full year
6.2.1 Lifestyle retail landscape
Across the world, consumers want to maintain and
improve their health and well-being and that of their
families. To achieve this, they look for propositions that
will improve their lives from brands they trust. This is as
true for consumers in developed markets such as
Western Europe as it is for the rapidly expanding middle
class in growth geographies such as China.
Consumer Lifestyle is on a journey to become a leading
player in health and well-being. We have a global footprint,
with an established presence in both mature and growth