Philips Consumer Lifestyle International Cluster chooses Dubai for its new headquarters

The Cluster organization employs approximately 815 employees operating currently in 33 locations and serves 98 countries across 3 sub-clusters: Central & Eastern Europe, Asia-Pacific and Middle East & Africa.

Philips Consumer Lifestyle sector was formed on January 1, 2008 through the integration of Philips' Consumer Electronics and Domestic Appliances & Personal Care divisions. This initiative is part of Vision 2010, the strategy to grow Philips as a market-driven company with a simplified business structure built around three core sectors - Healthcare, Lighting, and Consumer Lifestyle - each focused on the needs of their respective customers. Consumer Lifestyle enjoys global leadership positions in electric shavers and the electric men's grooming category, the global LCD FlatTV market, and in supplies of DVD players.

Commenting on the move, A. Yenal Gokyildirim, Senior VP International Cluster- Philips Consumer Lifestyle said:

"We have chosen to relocate to Dubai in order to be in the center of the fastest developing markets, to be closer to our customers and to respond to the aspiration of our consumers to improve their health and well-being. Dubai has forged a reputation as one of the most important and vibrant cities in the Middle East and is located half way between Asia and Europe."

"Philips Consumer Lifestyle Cluster 's ambition is to grow aggressively and profitably at a growth rate triple the GDP growth until 2010 with EBITA minimum 10%, in line with the company's Vision" he continued.