Philips

Description of Organisation

Royal Philips Electronics (NYSE: PHG, AEX: PHI) is a diversified health and well-being company, focused on improving people's lives through meaningful innovation in the areas of Healthcare, Consumer Lifestyle and Lighting. Headquartered in the Netherlands, Philips posted 2011 sales of EUR 22.6 billion and employs approximately 122,000 employees with sales and services in more than 100 countries. The company is a leader in cardiac care, acute care and home healthcare, energy efficient lighting solutions and new lighting applications, as well as male shaving and grooming, portable entertainment and oral healthcare. News from Philips is located at www.philips.com/newscenter.

Philips Research is a global organization that helps Philips introduce meaningful innovations that improve people's lives. We provide technology options for innovations in the area of health and well-being, targeted at both developed and emerging markets. Positioned at the front-end of the innovation process, we work on everything from spotting trends and ideation to proof of concept and - where needed - first-of-a-kind product development.

Putting people at the center

We believe that every innovation should start with an insight into people's needs, desires and aspirations. We make a point of understanding what drives them, the dilemmas they face, and how we can help them in the best possible way.

Open innovation

In order to fulfill our ambition, it is crucial that we work together with companies that are complementary to Philips and share our vision. Philips Research, as one of the pioneers of open innovation, is actively leveraging its deep competences, know-how and IP to work with selected companies and organizations with the purpose of creating win-win propositions. This entails working with potential strategic partners, future suppliers of our businesses, and with companies that provide us with a broader window on the world.

Global demands, local needs

We apply our expertise to address growing global demands for greater energy efficiency and higher levels of sustainability in all aspects of new products and technologies. At the same time, we have a growing presence in emerging markets, which enables us to deliver innovations that address local market needs.

Surprising innovations

For almost a century, our approach has enabled us to surprise people with breakthrough innovations - everything from lamps, radios and televisions to medical equipment, electric shavers and semiconductors.

Along the way, we've been responsible for some truly ground-breaking discoveries and standards, such as the Rotalix X-ray tube, the high-pressure mercury lamp, the triple-headed dry electric razor, the Compact Cassette, and more recent innovations like the Brilliance 40 slice CT scanner, CD, DVD, and Ambilight TV.

Dr. J.W. (Hans) Hofstraat

Vice President Philips Research

Member Program Board Healthcare

Healthcare Strategic Partnership

Webpage www.philips.com, www.research.philips.com