Philips to reorganize it's semiconductors

This includes a new business unit for Automotive & Identification. The business unit will service the fast growing semiconductor markets for automotive solutions and identification applications. The initiative is part of the renewal of the division into a simpler, more market oriented organization. The key elements of this business renewal are to increase the portfolio focus and to step up efforts in key markets. In addition to Automotive & Identification there will be three business units, Mobile & Personal, Home, and Multi-Market semiconductors. The business renewal also includes a drive to further lower the cost of organization for the semiconductor division. Frans van Houten, CEO of Philips Semiconductors and member of Philips Group Management Committee commented on the business renewal: "Our goal is to be a more agile and market-focused organization that has a sustained, solid contribution to value creation. Therefore we will focus on four key growth markets where our strategy is to leverage current strengths and win new leadership positions."