Philips India derives around 46 per cent of revenues from lighting solutions and 54 per cent from healthcare and consumer lifestyle businesses (32 per cent from healthcare and 22 per cent from consumer lifestyle respectively).
It is renaming its consumer electronics and home appliances division its ‘lifestyle’ division to appeal to the needs of young working professionals and nuclear families.
Philips is specifically addressing the youth category – the largest consumers of such products. Philips has brought on board Varun Dhawan, who will join peers such as Arjun Kapoor and Alia Bhatt to endorse its consumer lifestyle products.
Each of the three celebrities endorses different products. And as it ups the ante in this segment, the battle is going to not only get tougher but also more interesting. Philips is banking on Bollywood, smart technology and sleek designs to win this round.