Philips Rejigs Plants in China to Counter Fallout From Trade War
- Dutch company created local production hubs to avoid tariffs
- CEO says trade dispute remains at the top of his concerns
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Royal Philips NV, the Dutch maker of goods ranging from medical scanners to electric toothbrushes, is shifting production to China and strengthening local supply chains as an antidote to the trade war with the U.S.
With double-digit growth in China in the second quarter, the company can’t afford to miss out on state investment in the latest diagnostic equipment as well as orders from an emerging private health-care industry.