Philips Kecilei: We pursue vision 2010

Philips Vision 2010 is transforming the Philips Group into a truly market-oriented, people-oriented company. This includes strategically strengthening the company's in-depth development in the three core areas of quality assurance and quality of medical warships. As part of the Vision 2010 strategy, Philips has established three business divisions since January 1, 2008 to simplify the business structure: Philips Medical Warship Philips Premium Life and Philips Lighting. `Vision 2010, through a clear strategy for the company's three core business units, will make Philips a global leading brand for health, comfort and quality of life. In short, Vision 2010 puts customers at the center of all our actions; Vision 2010 announced that Philips expects to increase its profitability and hopes to achieve the goal of doubling its pre-tax income per share by 2010. Mr. Ke Cilei, CEO of Philips Group, said that for this reason, we have decided that in 2009, Philips Group will actively accelerate the implementation of business structure optimization measures for all business units to protect profitability.

Mr. Ke Cilei first commented on the performance of Philips in the past year. In 2008, we combined the concept of Vision 2010 deeply into all aspects of the company by combining a deep understanding of consumer needs with strong innovation capabilities. The most prominent of these is that everything is customer-centric. This led to the launch of a series of new products this year and won us more customers. As for financial performance, I think that for Philips, 2008 was a challenging year and the business was affected by the international financial crisis. For the unpredictable economic downturn, we have also taken some countermeasures. For example, we protect our profitability and stabilize our financial situation by reducing costs; we are more rigorously reviewing the company's operations and are streamlining and optimizing the company's internal structure to make it more efficient and flexible. These are all to ensure that when the economic situation improves, we can better take advantage of the trend and develop better. Weakening market demand (such as the shrinking of the North American and European construction and automotive industries) has affected our sales in the fourth quarter, especially in the areas of quality living and lighting.

When talking about Philips' role in the strategic transformation of small appliances from the past few years to focusing on medical devices, consumer and lighting products, Mr. Ke Cilei particularly emphasized that our strategy is to focus on medical lighting and quality life concepts. The concept of healthcare and quality of life mentioned here includes not only the application of medical devices and consumer electronics, but a more comprehensive overall solution. Today, Philips is no longer a manufacturer of electronics and equipment products, but a total solution provider centered on customer needs. Therefore, we have already merged the two departments of consumer electronics and small household appliances to form the Quality Life Division, which has greatly improved the customer-oriented operating efficiency and enabled us to better meet the modern life. The way the demand is. After the transformation in recent years, Philips' business distribution has become increasingly stable and global leader, strong brand and strong financial performance, which can help us overcome the difficulties of the international financial crisis.

When asked about the future changes in Philips' marketing strategy and investment plans, Mr. Ke Cilei firmly stated that we are increasingly investing resources in innovation and marketing, and those with high growth potential. This often means that we have increased our budgetary investment in countries such as China, India, Brazil and Russia. At the same time, we are investing more resources in businesses with high growth momentum, such as home healthcare and energy efficient lighting products. Our marketing activities focus on enhancing Philips' brand value and NPS. NPS, also known as the customer's recommended net worth, is a simple and effective tool for measuring customer loyalty in terms of Philips brand, products and services.

Mr. Ke Cilei proposed that in 2009, we will continue to follow the path of Vision 2010. Undoubtedly, we will strive to make Philips a leading brand of healthy, comfortable and quality life by continuously introducing innovative products and constantly winning new customers. As for financial performance, I expect 2009 to be a tough year. Looking at the global economic development forecast, we will find that the growth forecast for 2009 is only 1%, which is slower than the 3% in 2008. In order to make the company in an invincible position in the difficult environment of 2009. I believe that these initiatives will definitely make Philips stronger and better able to meet our medium-term financial goals when the global economy warms up in the future.



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