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"Circular Care: Smart and Sustainable Product Lifecycle Solutions"

Description: Philips will launch "Circular Care," a global initiative that integrates modular product design, AI-driven lifecycle management, and accessible customer programs to maximize circularity.

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1. Global Reach: Expand trade-in and refurbishment programs to all markets, ensuring streamlined logistics for closed-loop processes.

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Smart Product Design: All new products will adopt modular designs with IoT technology to monitor product health, simplifying repair and upgrade processes.

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AI-Driven Insights: Use AI to predict product lifecycle stages, optimize refurbishment rates, and ensure maximum resource efficiency.

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Customer Incentives: Introduce a subscription model for refurbished devices with discounts for trade-ins, promoting wider adoption of circular products.

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Training and Transparency: Train suppliers and partners on circular practices and publish transparent impact reports to enhance trust and accountability.

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Impact: This initiative will reduce environmental footprints, cut costs through optimized resource use, and strengthen Philips' reputation as a leader in sustainable innovation, benefiting the company, customers, and the planet.