Philips (PHG) Expands Personal Health Portfolio At CES 2019
Zacks Investment Research | Jan 07, 2019 08:39PM ET
Philips (NYSE:PHG) is gradually evolving as a healthcare company by augmenting its presence in the domain with an expanding portfolio.
To further bolster its presence in consumer health, the company recently introduced a range of intelligent, adaptive and personalized consumer health solutions at Consumer Electronics Show (CES) 2019.
The new offerings include sleep, oral and personal care solutions. The company also launched Philips Cares Aging & Caregiving service in the United States.
Brief Overview of the New Solutions
Philips’ expanded SmartSleep solution suite now includes the digital sleep analysis tool SmartSleep Analyzer, SmartSleep Snoring Relief Band, the SmartSleep Better Sleep Program, and sleep & wake-up lights.
Moreover, Philips launched its remote dental consultation service — Sonicare teledentistry — in North America. Through the Philips Sonicare app, consumers can address their oral healthcare needs on a daily basis.
Additionally, Philips introduced Smart Shaver series 7000, the world's first connected and artificial intelligence (AI) backed shaving solution at CES.
Portfolio Strength to Aid Personal Health Growth
Personal Health accounts for almost 40% of Philips’ revenues. In the last reported quarter, comparable sales rose 4%, driven by mid-single-digit growth in Sleep & Respiratory Care, Personal Care and Domestic Appliances. Health & Wellness sales remain unchanged on a year-over-year basis.
Koninklijke Philips N.V. Price and Consensus
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