Koninklijke Philips N.V. recognized as a leading innovator
Advancements made in health technology have earned Koninklijke Philips N.V. (Philips) the recognition as a top 100 innovator in February 2023, according to Clarivate Analytics. These include magnetic connection sealing technology and improved medical imaging. Philips cited its leading technology within the health technology field which helps overall improve consumer health. The company noted that it has helped expand its investments in its R&D department, growing over 1.7 billion EUR which has been a factor as to why it has become one of the leading companies in this industry.
New ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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