Philips Reorganizes Semiconductor Business Units
Royal Philips Electronics (the Netherlands) has reorganized its semiconductor division into four units -- automotive and identification, mobile and personal, home, and multi-market segments -- for what it says will be a more market-oriented approach to its businesses. As part of the realignment, Philips aims to increase the portfolio focus and to step up efforts in key markets and lower the cost of organization for the semiconductor division.
"Our goal is to be a more agile and market-focused organization that has a sustained, solid contribution to value creation," said Philips Semiconductors CEO Frans van Houten. "Therefore, we will focus on four key growth markets where our strategy is to leverage current strengths and win new leadership positions."