Philips Electronics Vietnam: Bringing Better Life for Vietnamese

“Philips is a global company of leading businesses creating value with meaningful innovations that improve people's health and well-being’ said Mr Eddie Ong, Country CEO of Philips Electronics Vietnam about their business activities in an interview with reporter Phan Dong.

 

Philips business in Vietnam is divided into 3 business sectors and they are Lighting, Healthcare and Consumer Lifestyle. In the Lighting sector, our business activities are in Lamps, Lighting Electronics, Professional Luminaires and Consumer Luminaires. In Healthcare, our business is in Patient Care, Clinical Informatics and Imaging systems. Consumer Lifestyle is involved in the consumer electronics and small domestic appliances industry.

 

While Vietnam is an extremely challenging market, we have managed to grow double digit in this market in the last few years and we foresee double digit growth in the next few years. We have several number 1 positions in this country for instance, we are #1 in Iron in the last 7 consecutive years and #1 in Food Preparation in the last 6 consecutive years.

 

We have launched many products in Vietnam, in totality, we offer more than 500 sku's to consumers in Vietnam. Among our latest products in the market are LEDs, Consumer Luminaires, Garment Steamer, Steam Irons, Blenders, Vacuum Cleaners, Avent mother and childcare products and etc.

 

I believe the success of our company is not only in the manufacturing process. In my view, the success of Philips lies in 3 things, all of which are driven by our brand promise of 'sense and simplicity'. First, our repeatable, rigorous process to create meaningful innovations; Second, our relationships with our customers, which leads to customer loyalty, a key factor in promoting growth and profitability; And third, the quality of our people – our highly engaged team.

 

Vietnam is an extremely important market to Philips. With high and stable GDP growth, high population, emerging middle-class and urbanization, Vietnam is the focus market for Philips. In comparison with the other markets within Asean, like the other markets, we have leading positions in most of the categories that we participate in. While all markets are challenging, I believe Vietnam is more challenging than the other markets, there are certain barriers in this market that makes it different from the rest. Vietnamese consumers who are more affluent today are more selective in their purchasing process. They do not just select products that are cheap but they look for 'value for money' in their purchase.

 

Philips operates in a market where consumers have choices. While we try to offer the best products and services to consumers, they may sometimes prefer our competitors' offerings over our and that is very normal and healthy. We believe very much in contributing to the development of the markets we operate in and will continue to do so. We have recently invested in a new office premise and our IT system and we will continue to invest in IT, human resource and also into other areas where we think is relevant and beneficial to our business and to the economy of Vietnam.

 

Business development and growth in a market like Vietnam is extremely important to our organization. We will continue to invest in Vietnam both in our infrastructure and also in human resource to fuel our growth. We will introduce more products and solutions that are relevant to Vietnamese to improve their health and wellbeing. We believe we are uniquely positioned for growth through our ability to simply make a difference to people's lives with meaningful and sustainable innovations. Philips is a global company of leading businesses creating value with meaningful innovations that improve people's health and well-being.