Since 2000, Royal Philips Electronics of the Netherlands has been committed to building itself into the world's leader in health and well-being while divesting itself of low margin and volatile divisions. It now focuses on three areas, namely healthcare, consumer lifestyle and lighting. Philips also gave up its previous slogan "Let's make life better" and turned to "Sense and Simplicity" in a bid to provide people-focused innovative solutions that are easy to experience.

In China, the company is actively beefing up its brand recognition as a brand of choice for the world's largest population.

Gerard Kleisterlee, president and CEO of Philips, and Patrick Kung, former corporate vice-president of Motorola and newly appointed chief executive officer of Philips Greater China, tells China Daily reporter Qian Yanfeng about their visions and plans in the highly competitive Chinese market amid concerns over the current global economic dowturn.