Marketing green products is paying off big time for electronics giant Philips.
The company reported a 33% sales increase on green products last year at EUR 5.3bn ($7.8bn) compared to EUR 4bn in 2006.
Last year in September, Philips launched its EcoVision4 program which aimed to double green products sales to 30% of total revenues by 2012. With the current green momentum, the company might reach its green sales goals way early than expected.
Through the program, the company also plans to invest EUR 1 billion in more green innovation and to improve their operations’ energy efficiency by 25% in the next five years.