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THE HAGUE Adidas Tubular Defiant W Mujer Rojas España , Sept. 23 (Xinhua) -- Philips will split into two separate independent companies, one for lighting solutions and one combining healthcare and consumer lifestyles, the Dutch electronics giant announced on Tuesday.


Both companies will, according to Philips, remain market leaders and continue to carry the name Philips. The healthcare company had a combined turnover of around 15 billion euros (19.3 billion U.S. dollars) in 2013 Adidas AlphaBounce Beyond Hombre Negras Blancas España , while the lighting company had a turnover of 7 billion euros. Philips did not mention a time schedule for the split.


The healthcare company will consist of a merger between the health and consumer division. A Philips statement said the goal is to "capitalize on the convergence of professional health care and consumer end-markets across the health continuum, from healthy living and prevention to diagnosis, treatment, recovery and home care."


The lighting division will focus primarily on innovative lighting solutions and projects as relieving entire neighborhoods and buildings.


"I do appreciate the magnitude of the decision we are taking, but the time is right to take the next strategic step for Philips Adidas Swift Run España , as we continue on our transformation," said Frans van Houten, CEO of Philips, in a press release.


"Both companies will be able to make the appropriate investments to boost growth and drive profitability, ultimately generating significantly more value for our customers Adidas Deerupt Runner España , employees and shareholders," he added.


Philips suffered from difficult market conditions and moderate growth with the company posting 2013 sales of 23.3 billion euros. The firm employs approximately 113,000 employees in more than 100 countries.


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WASHINGTON, Feb. 11 (Xinhua) -- In her first testimony to the Congress, U.S. Federal Reserve Chair Janet Yellen reiterated central bank's plan to taper its stimulus exit despite recent weakness in the economy.


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Yellen told lawmakers she expected "a great deal of continuity" in the central bank's monetary policy, saying that she served on the Fed policy-setting committee as the bank formulated its current policy strategy and she strongly supported that strategy.


Yellen, 67, took the oath of office to lead the Federal Reserve System on Feb. 3 Adidas Dragon Ball Z España , succeeding Ben Bernanke, who stepped down after eight turbulent years. She was previously the Fed's vice Chair.


In the public debut in her new role, Yellen said while the economy gained steam at the end of 2013, recovery in the U.S. labor market was "far from complete," underscoring the importance of considering more than just the unemployment rate when evaluating the conditions of the labor market.


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