Changing Philips Top to Bottom: CEO Van Houten

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Oct. 21 (Bloomberg) -- Bloomberg’s “Countdown” anchor Mark Barton recaps his interview with Philips CEO Frans Van Houten on the company’s third-quarter results, remaking the focus of the company and the impact of healthcare reform in the United States. He speaks on Bloomberg Television’s “On The Move.”

Mark barton that joins us.

Me and you back in the 1980s with our philips discmen did not exist anymore.

They took the tv's. they sold the audio and visual divisions.

It is a lighting company, it is a health care company.

It is a consumer wellness company.

It was lighting that drove the company.

The consumer is up by 42%. it's not all about job cuts.

Listen to this.

Accelerate is much more than an efficiency program.

This is changing philips into an entrepreneurial company so it does affect our company.

We are introducing innovations much faster into the market.

That latter point is teh rehe reason why last quarter we were able to show strong double-digit growth in china, which we consider our second home.

He is in good form.

These lighting systems flying off of the shelves, which caught my ear.

You can program your light depending on which color.

If philip shares rise, the lights can turn green.

-- philips shares rise, the lights can turn green.

Things are a bit lumpy in terms of health care in the u.s.. two things matter in health care.

The shenanigans over the debt ceiling and how will that affect future earnings it?

He did say in the conference call that he cannot estimate how the shutdown will affect earnings.

He does say that the shutdown has created negative market conditions.

What about obamacare?

Is that affecting health care in the united states?

Health care is the most profitable division and it has the biggest sales, so it matters.

Philips is positioning itself to drive the delivery of care at lower cost to more patience.

That is exactly what health care reit form is all about.

It is -- health care reform is all about.

The united states is undergoing a lot of turbulence.

The affordable care act makes many hospital ceos reluctant in the short term to do capital expenditures.

We do not believe this will last over time.

Final word, mated to reaching its four-year target.

The global economy will affect sales growth in coming quarters.

The biggest gain since may 10, 2010. you beat me to it.

Thank you for that round up.

This text has been automatically generated. It may not be 100% accurate.


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