Philips’ Green Product Sales on the Rise 4428

BUSINESS PLANNING & TECHNOLOGY DEVELOPMENT

Royal Philips Electronics (Amsterdam, The Netherlands) achieved a 33% increase in sales of green products in 2007. All three Philips sectors—healthcare, lighting, and consumer lifestyle—showed a significant increase in sales of green products during the year, resulting in total green product sales of €5.3 billion, compared with €4 billion in 2006.

In 2007, sales of green healthcare products increased by 35%, boosted in particular by the company's magnetic resonance imaging (MRI) systems and patient monitors. For example, Philips' Achieva 3.0T X-series MRI scanner provides an environmental impact reduction of 32% compared with previous models, the company reports. In addition, Philips reports that its new IntelliVue MMS X2 patient monitor also has proven its green credentials by consuming 52% less energy during use than similar models.

Last year, green product sales accounted for 20% of total Philips sales, compared with 15% in 2006. In September 2007, Philips announced its EcoVision4 program, aiming to increase sales of green products to 30% of total revenues within five years. The company is also looking to invest €1 billion in green innovation and to improve the energy efficiency of its offices and production facilities by 25% in the next five years.

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