Royal Philips NV Chief Executive Officer Frans Van Houten Speaks At Innovation Day
An image of a fetus sits on the screen of a Philips VISIQ portable ultrasound system, produced by Royal Philips NV, as it stands on display during the company's innovation day at the Evoluon Center in Eindhoven, Netherlands, on Tuesday, Sept. 30, 2014. Philips plan to sever ties with the lighting business on which it was founded and focus instead on health care pushing the Dutch company into a field increasingly crowded by companies such as Apple Inc. Photographer: Jasper Juinen/Bloomberg via Getty ImagesJasper Juinen—Getty Images

    Philips has spent years extolling LED lighting, which is long lasting and consumes far less energy than other lighting. But over the past year the company has been building solar-powered LED complexes throughout Africa—transforming 87 underused health clinics and giving kids the ability to read and play after dark. The initial outlay for the project is donated. But there’s an upside for Philips in the lighting project, which has given it a foothold in numerous new markets and boosted orders for its tablet-size ultrasound machine, Visiq—a lifesaving device for doctors in remote villages.

    Company Info

    SectorIndustrials
    IndustryElectronics
    CountryNetherlands
    Revenues ($ millions)30,876
    Company typePublic
    CEOFrans A. van Houten
    Websitewww.philips.com
    Impact SegmentPublic Health/Nutrition

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