Philips Maps Out a New Direction

Chief Executive Kleisterlee is refocusing the company on three primary markets, with new product lines and executive changes

Not long ago, Royal Philips Electronics (PHG) was nowhere in the Chinese television market. But as liquid-crystal display technologies have taken hold, the Dutch conglomerate's flat-screen TV unit has shot up to the No. 2 spot in one of the world's fastest-growing economies. Markets change, says chief executive Gerard Kleisterlee, and so can Philips.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.