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

New Algorithm can Predict Diabetic Kidne…

Researchers from Sanford Burnham Prebys and the Chinese University of Hong Kong have developed a computational approach to predict whether a person with type 2 diabetes will develop kidney disease...

AI could Improve Heart Attack Diagnosis …

An algorithm developed using artificial intelligence (AI) could soon be used by doctors to diagnose heart attacks with better speed and accuracy than ever before, according to new research from...

AI Voice Coach Shows Promise in Depressi…

Artificial intelligence (AI) could be a useful tool in mental health treatment, according to the results of a new pilot study led by University of Illinois Chicago researchers. The study...

ChatGPT Passes Radiology Board Exam

The latest version of ChatGPT passed a radiology board-style exam, highlighting the potential of large language models but also revealing limitations that hinder reliability, according to two new research studies...

Scientists develop AI tool to predict Pa…

Scientists from UNSW Sydney with collaborators at Boston University have developed a tool that shows early promise in detecting Parkinson’s disease years before the first symptoms start appearing. In research published...

Better than Humans: AI in Intensive Care…

In the future, artificial intelligence (AI) will play an important role in medicine. In diagnostics, successful tests have already been performed: for example, the computer can learn to categorise images...

Could Online Gaming Social Networks Have…

For millions of Americans playing some type of video game is a daily occurrence. Games can be a welcome form of entertainment and relaxation for many, and the internet can...

Siemens Healthineers Opens State-of-the-…

Siemens Healthineers has opened its new Education & Development Center (EDC) in Erlangen. The open-plan building offers space for the currently 240 trainees and integrated degree program participants in Erlangen...

Siemens Healthineers Invests 80 Million …

Siemens Healthineers is building a new factory in Forchheim for the cultivation of crystals for semiconductor production. The total investment amounts to 80 million euros. The new factory is expected...

Orion Health Welcomes New Sales Director…

Orion Health has appointed a new sales director for Scotland. Gabriel Radford, who has a background in business development for companies working with health, social care, and local government, will...

AI Tool Outperforms Human Emergency Call…

A team of researchers from Denmark have developed a new artificial intelligence (AI) framework to address the number of strokes that go unrecognised by human emergency call handlers.(1) The framework...

Scientists Use AI to Find Promising New …

Scientists at McMaster University and the Massachusetts Institute of Technology have used artificial intelligence (AI) to discover a new antibiotic which could be used to fight a deadly, drug-resistant pathogen...