Philips updates markets on lighting sector in meeting with financial analysts

(PresseBox) ( Boston, Massachusetts, USA, )
At a meeting with investors and financial analysts today, Royal Philips Electronics (NYSE: PHG, AEX: PHI) will update the market on progress at its Lighting sector. Executives at Philips Lighting, including sector Chief Executive Officer and member of the Philips Board of Management Rudy Provoost, will elaborate on the longer-term solid prospects of the overall addressable Lighting market and discuss the steps Philips is taking to further strengthen its leading position in Lighting.

In particular, Mr. Provoost will highlight how the continuing advancements in LED-based applications will enable the lighting industry to offer customers an increasing amount of superior all-inclusive, tailor-made solutions which in turn is expected to drive up demand, resulting in increasing industry volume and size.

He will also elaborate on the steps Philips has taken to safeguard its performance from the effects of the global recession as much as possible, and how these steps will make Philips Lighting a structurally more competitive business in the future.

"The Lighting market is in the midst of a radical transformation, driven by important global trends such as an increasing environmental awareness, changing lifestyles and ongoing urbanization and globalization," Mr. Provoost commented. Our strategy to shift our portfolio towards integrated applications and solutions, coupled with our unique, customer-oriented approach to the market and our global leadership in LED, positions us well to reap the benefits of this transformation."

Attendees of this investor day will first enjoy a demonstration of the latest LED-powered professional luminaires solutions at the showroom of the Philips Color Kinetics headquarters in Burlington, Massachusetts, USA. This will be followed by presentations of the Philips Lighting executive team in Boston, Massachusetts, USA, starting at 11:45 AM local time or 17:45 PM, CET. These can be monitored via audiocast at this page.
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