Fast-growing marketing strategies supported by augmented advertising expenditures and novel product launchings, the Amsterdam-based Royal Philips Electronics has decided to double up its Indian earnings by the next five years.
Philips Electronics India, which recorded an increase of 20% during the last year, will hit Rs 9,000 crore in sales revenue by 2015 if it registers 20% increase in each of the next five years.
Globally, Royal Philips clocked revenues of Euro 25.4 billion (R1.64 lakh crore), a 10% growth of 2009.
Once achieved, the emerging markets like India, China and others will contribute 40% to the global kitty of Philips, up from 34% in 2010-11.
Mr. Rajeev Chopra, Philips India MD, stated, "Yes, we need grow faster in India than the firm's overall global growth in the coming years to achieve the global targets."
But, Mr. Chopra refused to comment on the revenue or contribution from the Indian market in the worldwide sales by 2015.
"It would be significant," Mr. Chopra added.
In 2011, the company will push its consumer lifestyle section in a big way comprising its kitchen appliances range.
Sjoerd Drost, director marketing, consumer lifestyle segment stated, "We will further consolidate in the mixer-grinder category and we aim to become the market leader soon."