Lahore: Pakistan – Royal Philips, a global leader in health technology, today announced its plans to expand its products and services for personal health presence in the Pakistan market. At an event attended by more than 300 local business and retail partners, Philips also unveiled its ambitions to improve the health and well-being of people in Pakistan through its product innovation. The announcement follows Pakistan’s social and economic development over the past decade to become the world’s 24th largest economy and predictions that it will surpass Canada, Australia and South Korea, amongst others, to be the 16th largest by 2050 . According to the United Nations Development Programme, nearly two-thirds of Pakistan’s 207 million population is below the age of 30 , making it one of the world’s most youthful nations and also giving rise to a large millennial segment whose taste is driving domestic demand for consumer goods. “With a one of the largest populations in the world, a strengthening economy, and an underserved market with a growing and informed middle class, Pakistan offers a very compelling investment opportunity for Philips to increase its personal health offering,” said Mr. Muhammad Ali Jaleel, Country Manager, Philips Pakistan. “Philips has a strong heritage in Pakistan, since establishing operations locally in 1948, Philips has been present in Pakistan for a long time in healthcare and lighting businesses and we feel now is the right time to do this. strengthen our personal health offerings to the market. strengthen our personal health offerings to the market. Our personal health portfolio covers a wide array of products under the categories of kitchen appliances, floor care, personal care, garment care and health and wellness. We strive to make the world healthier and sustainable through innovation and are very excited to introduce these innovations to consumers in Pakistan.” Philips has a strong heritage in Pakistan, since establishing operations locally in 1948.been present in Pakistan for a long time, and iIt now sells about half a million products through leading local distributors including AI International, Home Plus and Megaplus. Philips Kitchen Appliances, Garment Care, Mother & Child Care and Personal Care products are all designed to help consumers’ lead healthier lives and to look their best. “Megaplus, as one of the largest and oldest distributors and solution providers in Pakistan, along with its diversified portfolio, prides itself on being partners with Philips,” said Mr. Asim Bokhari, CEO Megaplus. “With Philips’ popularity among households and being a reliable and credible name, we are optimistic that this new venture will be an exciting journey for us where Megaplus can add substantial value for Philips.” Philips’ expansion plans in Pakistan follow its successful global transformation from consumer electronics giant to a world leader in health technology that improves the health of populations and enables better outcomes at every stage ofalong the health continuum – from healthy living and prevention, to diagnosis, treatment and home care. “Our vision is to improve the lives of 3 billion people each year by 2025,” concluded Mr. Jaleel. “We hope that expanding our footprint in Pakistan and making more of our products available in this market will bring us even closer to achieving our vision.” Published in Daily Times, July 11th 2018.