In the wake of a global review, Philips has decided to continue with Carat as its media agency. The development, which impacts India operations as well, is a key one for Carat India. Philips is one of the biggest businesses for Carat Media. The account size is more than Rs 50 crore.
The global review had been going on for the last five months. Philips has been in Carat’s custodianship for the past five years. At the time of filing the story, neither the client nor the agency was available for comments.