Philips 2012 Annual Report Download - page 22

3 Our strategy in action 3 - 3
22 Annual Report 2012
successfully adapted to local cuisines – being used for
traditional dishes such as chicken samosas in India, chicken
wings in China, and chocolate cake in the UK.
And proving that innovation can be a two-way street, our
soy milk platform, developed locally for consumers in
China, has now been adapted for European consumers –
to make soup.
Successfully integrating acquisitions
In 2012 we built upon the previous year’s acquisitions of
Povos (China) and Preethi (India). Povos’ end-to-end
capability has expanded the Philips brand offering in
Chinese cuisine, driving over 30% growth in Philips-
branded kitchen appliances, as well as halving time-to-
market. Furthermore, a number of products based on
Povos’ rice cooker innovation platform have been
launched outside China, such as the Multicooker in Russia,
which has been tailored to meet the specific culinary
needs of Russian households.
In India, Preethi’s product-creation capability has
strengthened Philips’ kitchen appliances market
leadership: we are now the clear market leader in the
important mixer-grinder category, with a market share in
excess of 30%. And we are further leveraging Preethi’s
brand equity, launching Preethi-branded products for the
south Indian diaspora across the Middle East and ASEAN,
as well as expanding the portfolio in India to include
garment care products.
More and more, consumers are
looking for solutions that help them
maintain or improve their health and
well-being – and that of their families.
By bringing together our global
consumer-centric technology
platforms and our local business-
creation capabilities, we are able to
deliver meaningful innovations that
truly meet local consumer needs.
In key categories like male grooming,
oral healthcare, kitchen appliances
and coffee we are driving profitable
growth and making a difference to
people’s lives – by making it easier
for them to achieve a healthier and
better lifestyle.