Philips Electronics India will be adding more products from its global portfolio to its kitchen appliances range here.
Mr Rajeev Chopra, Vice-Chairman & Managing Director of the company, said that the Philips team is studying in detail possible products that could be brought to India from its Povos basket in China.
Last year, the company's Dutch parent, Royal Philips Electronics, had acquired Povos Electric Appliance Co in China, soon after it bought out the Chennai-based Preethi Appliances.
“There is a lot of stuff from Povos that may be leveraged into India. We are looking at what is relevant for India and what is not. And when you see them here, they will be customised for India,” said Mr Chopra.
The Shanghai-headquartered Povos has a range of products from induction cook tops to electric water kettles; and room humidifiers to water dispensers.
Mr Chopra also indicated that the company could get in high-end products from the global range. “India is an interesting market in the sense that we have got a bunch of people who are as rich as anybody else in the world. And we have got a set of people who have the propensity to buy anything that enhances their life. And then there is the middle class. It's our intention to attack the lot.”
Asked if Philips would retain the Preethi brand name, Mr Chopra said yes, and it would be leveraged in markets where the brand name already has strong equity. Preethi is strong in Southern India and in West Asia, where the Indian diaspora is strong.
Mr Chopra said that Philips is not averse to more acquisitions. “We acquired three companies in the last four years. And we certainly are not shy of more such acquisitions,” he said.
Rural play
“It's also Philips intention to go for a bigger play of the rural market,” said Mr Chopra. He described how the company is expanding its distribution network to penetrate rural markets, especially in lighting. Currently, the company's products are available in 10,000-plus population towns and cities, but going forward it could be seen in even smaller places. “In the next 6-7 years, you can see Philips in towns where ever you see light bulbs,” he said.
On the medical equipment category, he said the company's greenfield facility at Chakan in Pune to manufacture cardiovascular systems and X-Ray machines would go on stream in the next couple of months.