THE HAGUE Cheap Atlanta Falcons Jerseys , Sept. 23 (Xinhua) -- Philips will split into two separate independent companies, one for lighting solutions and one combining healthcare and consumer lifestyles, the Dutch electronics giant announced on Tuesday.
Both companies will Cheap Arizona Cardinals Jerseys , according to Philips, remain market leaders and continue to carry the name Philips. The healthcare company had a combined turnover of around 15 billion euros (19.3 billion U.S. dollars) in 2013, while the lighting company had a turnover of 7 billion euros. Philips did not mention a time schedule for the split.
The healthcare company will consist of a merger between the health and consumer division. A Philips statement said the goal is to "capitalize on the convergence of professional health care and consumer end-markets across the health continuum Wholesale Jerseys China , from healthy living and prevention to diagnosis, treatment, recovery and home care."
The lighting division will focus primarily on innovative lighting solutions and projects as relieving entire neighborhoods and buildings.
"I do appreciate the magnitude of the decision we are taking Wholesale Football Jerseys , but the time is right to take the next strategic step for Philips, as we continue on our transformation," said Frans van Houten Wholesale NFL Jerseys , CEO of Philips, in a press release.
"Both companies will be able to make the appropriate investments to boost growth and drive profitability, ultimately generating significantly more value for our customers Wholesale Jerseys , employees and shareholders," he added.
Philips suffered from difficult market conditions and moderate growth with the company posting 2013 sales of 23.3 billion euros. The firm employs approximately 113,000 employees in more than 100 countries.
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