Phillips, due to changing trends, has been facing a decline in revenue growth and also in sales of lighting products as people now prefer LED bulbs.
On one hand, there is a decline in lighting products and on another hand, the growth in consumer lifestyle products and healthcare products is seen.
Therefore, Phillips India’s wholly owned subsidiary, Phillips Homecare Services, will be providing devices as well as medical services to the customers.
Phillips will be providing various treatment services under specialized and trained staff and personnel and doctors.
Phillips will be in competition with startups such as Portea and hospitals chains such as Apollo and Max.
