Hotline: 1800 102 2007
X
Search Business Opportunities
Jan, 17 2017

Philips expands production of personal healthcare products

Philips India's sales declined to Rs 6,282 crore last fiscal from Rs 6,376 crore in 2014-15. The company's net profit too fell 6 percent to Rs 397.5 crore, as per its RoC disclosure.

Dutch diversified firm Philips has forayed into the home healthcare business in India by floating a new entity Philips Home Care Services. The wholly owned subsidiary of Philips India will focus on delivering both devices and medical services at the consumers' household.

As per Philips India disclosure to the Registrar of Companies (RoC), the company carried out a pilot study under 'Project Vijay' for operating the home healthcare business for over a year. The report said Philips will provide home healthcare treatment, diagnosis and care for ailments such as heart failure, respiratory disease, and post-surgical treatment, sleep disorder, kidney and cancer care.

As per CyberMedia Research, the market for home healthcare in India is projected to reach USD6.2 billion by 2020, growing at a CAGR of 18 percent from USD3.2-billion in 2016.

Philips India's sales declined to Rs 6,282 crore last fiscal from Rs 6,376 crore in 2014-15. The company's net profit too fell 6 percent to Rs 397.5 crore, as per its RoC disclosure.

While the Preethi brand is popular in south, Philips said it is expanding it pan-India through large retail chains and exporting it to countries with Indian Diaspora. The company is also expanding production of electronic personal care products such as hair straighteners in India.

Comment
image
Related opportunities
  • Quick Service Restaurants
    About us: Greetings from Rollacosta !!! ‘Rollacosta’ is brought..
    Locations looking for expansion Maharashtra
    Establishment year 2012
    Franchising Launch Date 2012
    Investment size Rs. 5lac - 10lac
    Space required 80
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Mumbai City Maharashtra
  • Education Supplies
    About Us: TicTacToe Learning Center is an afterschool program, learning English..
    Locations looking for expansion Maharashtra
    Establishment year 2018
    Franchising Launch Date 2019
    Investment size Rs. 1 Cr. - 2 Cr
    Space required 4000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Bags & luggage
    About Us: Legendary Sports Retail Brand of India NIVIA is a true..
    Locations looking for expansion Punjab
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 30lac - 50lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Panchkula Punjab
  • Casual dine Restaurants
    About Us: Dhaba is an award-winning chain of Punjabi Dhaba &Theka..
    Locations looking for expansion Delhi
    Establishment year 1962
    Franchising Launch Date 2017
    Investment size Rs. 1 Cr. - 2 Cr
    Space required 2000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
Insta-Subscribe to
Entrepreneur
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities