| LONDON — Royal Philips Electronics NV has reorganized its semiconductor division into four business units, the company said Tuesday (May 3). |
The changes include the creation of an Automotive and Identification business unit. The other business units are Mobile and Personal, Home and Multi-Market semiconductors.
The changes take effect immediately, according to the company (Amsterdam, Netherlands).
"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," Frans van Houten, CEO of Philips Semiconductors, said in a statement.