Philips Electronics India chief executive designate Murali Sivaraman (left) with outgoing head K. Ramachandran in New Delhi on Tuesday. Picture by Prem Singh

New Delhi, Sept. 18: Philips Electronics India is eyeing a turnover of Rs 5,000 crore in the next three years by focussing on three segments — lighting, healthcare and consumer electronics.

The Dutch firm, overshadowed by Korean competitors such as LG and Samsung in recent years, is chalking out an aggressive growth strategy for the country.

“In India, we see a possibility of becoming a significant player with a turnover of about Rs 5,000 crore in three to four years,” said Murali Sivaraman, chief executive designate of Philips Electronics India.

The company recorded a turnover of Rs 2,649 crore in the last calendar year. Sivaraman will take over the reins of the company from K. Ramachandran in two weeks.

Philips may also go in for mergers and acquisitions. According to Sivaraman, 60-70 per cent of the revenue will come from sales.

“Globally, Philips is actively encouraging emerging markets such as China and India. Growing inorganically is also an essential pre-requisite to achieve our topline target,” he said.

On the time frame for possible acquisitions, Sivaraman said there was a sense of urgency and he was ready to borrow.

Worldwide, Philips expects to double its core profits by 2010. India contributes only 2 per cent to global sales.

Philips sells lights, medical equipment, electronics utems, domestic appliances and personal care products in India.