Philips showcases locally relevant innovations

BANGALORE, INDIA: Royal Philips showcased a range of innovations at the Philips Innovation Center (PIC) in Bangalore, India, specially developed for South Asia and other growth geographies.

At an international media event, Philips underlined its commitment to developing and investing in innovations in the area of healthcare, energy-efficient LED lighting solutions, and locally relevant consumer appliances and services.

"India and other growth geographies are increasingly important, not just as markets, but as centers of innovation excellence for Philips." said Jim Andrew, chief strategy and innovation officer "We believe that to be meaningful, innovation must be locally relevant. That requires innovating close to and often directly alongside, our customers, wherever they are in the world. This is a fundamental part of our innovation strategy, and why we continue to invest in centers of innovation excellence that have impact locally and also expertise that we can leverage globally."

PIC is one of the 59 Philips R&D centers in the world, of which 13 are in Asia and 3 in Latin America. In 2013 Philips invested more than EUR 1.7 billion in research and development globally.