Philips has consistently featured in Interbrand’s ranking of the top 50 most valuable brands in the world. CCO Ed Walsh looked back at Philips’ evolution since it was established 128 years ago, focusing particularly on its transformation in the last five years into a purpose-driven leader in health technology.
- Ed Walsh, CCO of Philips
As a 128-year-old company known for everything from lighting to appliances to TVs to cassette tapes and CDs, Royal Philips is now focused around its purpose of making the world healthier and more sustainable through innovation. It aims to improve the lives of 3 billion people each year (400 million in underserved communities) and is going all-in on healthcare technology, recently eliminating or selling its other offerings. This transformation has informed a new brand position, social value commitment (with a strong push to becoming a circular economy) and changing the company culture.