Significant Increase in Green Product Sales Carried Across All Three Philips Sectors

Royal Philips ElectronicsRoyal Philips Electronics (AEX:PHI, NYSE:PHG) announced that it achieved a 33% increase in sales of Green Products in 2007, as published in the company's 10th annual Sustainability Report today. All three Philips sectors - Healthcare, Lighting and Consumer Lifestyle - showed a significant increase in sales of Green Products in 2007, resulting in total Green Product sales of EUR 5.3 billion in 2007, compared with EUR 4 billion in 2006.

In September 2007, Philips announced its EcoVision4 program aiming to double sales of Green Products to 30% of total revenues within five years. Philips is well on its way to achieving this target, with Green Product sales accounting for 20% of total Philips sales in 2007, compared with 15% in 2006.

Barbara Kux, member of the Group Management Committee and Chair of the Sustainability Board said: "We are delighted that Green sales now already represent 20% of our total revenue and that we grew Green sales by as much as 33% in 2007. All our sectors performed better in this area, and we are particularly pleased with the significant increases in sales of Green Products in the Healthcare and Consumer Lifestyle sectors. I am convinced that Philips' focus on green business will create economic value for the company as well as for society at large."

Philips continued its steady advance in energy efficient lighting solutions with an increase in Green Lighting sales of 17%. The biggest increase was in the home lighting market followed closely by lighting solutions for retail outlets and street lighting as well as LED lighting. Philips's CosmoPolis street lighting system, for instance, has been installed in many cities in Europe and Asia since its introduction in 2005 and cuts energy consumption by 50%.

Sales of Green Healthcare Products increased by 35% boosted in particular by the MRI scanner range as well as patient monitors. The Philips MRI scanner Achieva 3.0T X-series for instance shows a reduction of the environmental impact of the product by 32% compared to previous models. A new market introduction that has also proven its green credentials is the Philips IntelliVue MMS X2 Patient Monitor that consumes 52% less energy during use.

The Consumer Lifestyle sector reaped the benefits of a drive over the last year to improve the energy efficiency of its products across the board, showing a very significant increase of 91% in sales of Green Products. Examples are the Cineos Soundbar with Ambisound, which uses 50% less energy than its closest competitor, and the energy efficient LCD TV range of which some models use 36% less energy than closest competitors.

Philips Green Products offer a significant environmental improvement in one or more of the Philips Green Focal Areas: energy efficiency, packaging, hazardous substances, weight, recycling and disposal, and lifetime reliability, compared to similar products on the market.

Philips' fourth EcoVision program, launched in September 2007, sets ambitious targets to double sales of Green Products to 30% of total revenues by 2012, to invest EUR 1 billion in Green Innovation and to improve the energy efficiency of offices and production facilities with 25% in the next five years.

About Royal Philips Electronics
Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is a global leader in healthcare, lighting and consumer lifestyle, delivering people-centric, innovative products, services and solutions through the brand promise of "sense and simplicity". Headquartered in the Netherlands, Philips employs approximately 123,800 employees in more than 60 countries worldwide. With sales of EUR 27 billion in 2007, the company is a market leader in medical diagnostic imaging and patient monitoring systems, energy efficient lighting solutions, as well as lifestyle solutions for personal wellbeing. News from Philips is located at www.philips.com/newscenter.

Most Popular Now

Mahana Therapeutics Signs Agreement with…

Mahana Therapeutics, a leading provider of prescription digital therapeutics, announced today that the company has entered into a multi-million-dollar distribution and marketing partnership with the Consumer Health division of Bayer...

ChatGPT can Outperform University Studen…

ChatGPT may match or even exceed the average grade of university students when answering assessment questions across a range of subjects including computer science, political studies, engineering, and psychology, reports...

NHS AI Diagnostic Funding: Five Things t…

Opinion Article by Guilherme Carvalho, Sales & Contracts Manager, Sectra. A new £21 million fund for AI was announced by the UK government in June, with the intention of providing NHS...

ChatGPT Shows Limited Ability to Recomme…

For many patients, the internet serves as a powerful tool for self-education on medical topics. With ChatGPT now at patients’ fingertips, researchers from Brigham and Women’s Hospital, a founding member...

Combining AI Models Improves Breast Canc…

Combining artificial intelligence (AI) systems for short- and long-term breast cancer risk results in an improved cancer risk assessment, according to a study published in Radiology, a journal of the...

AI Predictions for Colorectal Cancer: On…

Colorectal cancer (CRC) ranks second in leading causes of cancer-related deaths globally, according to the WHO. For the first time, researchers from Helmholtz Munich and the University of Technology Dresden...

Healthcare Chatbot: Expand Support with …

The Danish eHealth platform, sundhed.dk, has faced a substantial surge in requests from Danish citizens and has swiftly expanded its support and effectively adapt to the ongoing changes in queries due...

ChatGPT Shows 'Impressive' Acc…

A new study led by investigators from Mass General Brigham has found that ChatGPT was about 72 percent accurate in overall clinical decision making, from coming up with possible diagnoses...

WiFi SPARK's Healthcare Business Re…

Leading WiFi provider WiFi SPARK is rebranding its healthcare arm as SPARK Technology Services Limited. The new identity marks the completion of the integration of the former Hospedia bedside unit...

AI Performs Comparably to Human Readers …

Using a standardized assessment, researchers in the UK compared the performance of a commercially available artificial intelligence (AI) algorithm with human readers of screening mammograms. Results of their findings were...

ChatGPT is Debunking Myths on Social Med…

ChatGPT could help to increase vaccine uptake by debunking myths around jab safety, say the authors of a study published in the peer-reviewed journal Human Vaccines and Immunotherapeutics. The researchers asked...

Online AI-Based Test for Parkinson'…

An artificial intelligence (AI) tool developed by researchers at the University of Rochester can help people with Parkinson's disease remotely assess the severity of their symptoms within minutes. A study...