The third prong of Philips’ strategy lies in consumer products for well-being, including ingenious kitchen appliances to service humanity’s growing obsession with healthy living.
“We see a world with a growing middle class,” CEO Van Houten said in his London presentation.
Philips has been forced to make tough choices, but people such as Hans Mons, one of the original demonstrators of the “Pinkeltje” in 1978, is philosophical about the decision to drop consumer electronics.
“Of course I’m nostalgic, but technology simply evolves, the whole world is changing. You have to change with it to stay in the competition,” he said.