Frans van Houten at Philips Capital Markets Day 2016

At Capital Markets Day in London, Philips CEO Frans van Houten remarked that his company would have to “tighten the belt” in once-promising emerging healthcare markets Russia, Brazil, and particularly China. Though macroeconomic challenges and Philips’ plans to separate its lighting and medtech businesses spelled sluggish projected sales growth in 2016, Van Houten said there was still significant room for growth in personal health management technology.