Philips raises stakes in Romania

Dutch group Philips Electronics has high expectations from the Romanian market, Romania being, together with other East European states, a key element in the future development of the group over the following years.

“Philips believes Romania will follow the overall growth trend, with the difference being that, in Romania, the growth rate will stay above the global rate,” Paul Hansen, general manager of Philips Romania, told Ziarul Financiar.

The domestic branch is, according to Hansen, Philips’ main subsidiary in the region, being active in the domain of medical systems, lighting, electronic and personal care products. “In the long term, Romania will become part of the European community and this will have an impact on the business environment. The penetration of various market segments will be similar to that in the rest of Europe,” adds Hansen.

According to the Philips official, the company’s turnover logged growth in excess of 20% this year.

Last year, officials put Philips Romania’s turnover at 65-75 million euros. This is an approximate value, since a significant part of sales are generated through local importers. The figure does not take into account, though, the joint venture the Dutch producer operates with Elba company in Timisoara, or the production of DECT phones (wireless digital terminals aimed at fixed telephony).

Another unit of the Dutch group, Philips Business Communication, in its turn announced higher turnover derived on the Romanian market, with the unit to build a dealers network through its domestic partner, ICCO Electronics.
ionut.bonoiu@zf.ro