DDB, which already handles the creative account for Philips' consumer electronics range, beat its fellow incumbent agency D'Arcy, following a six-month pitch process, which originally included the non-roster agency Bartle Bogle Hegarty.
D'Arcy handles the £200m global creative account for Philips personal care products, the lighting division and domestic appliances.
The pitch was run from Philips' Eindhoven head office with the move coming as Philips seeks to raise its corporate profile around the world.
A Philips spokesman commented: "As a step in the overall strengthening of the brand, Philips is considering its options for a corporate marketing campaign. Given its strategic importance, this process needs appropriate focus and will be given the necessary time and attention over the coming months. Philips will be working with DDB on this process."
It is unclear when the campaign will be rolled out, or what the exact media strategy will be. Carat International handles Philips' £450m global media account.
BMP DDB was unavailable for comment as Campaign went to press.
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