Dutch multinational electronics company Philips is kicking off a $300 million global agency review, Campaign US has learned.
Philips has invited at least four global holding companies to participate with integrated teams, including Interpublic Group, Dentsu, WPP and MDC Partners, according to agency sources.
Carat has held a significant portion of Philips’ media business, and is defending the account. WPP’s Wavemaker also has a small piece of the digital media business.
WPP’s Ogilvy has worked on Philips’ creative account since 2011.
Requests for information are due by January 25; the pitch will run through May, according to agency sources.
R3 is running the review, which includes creative, media and communications globally. R3 was unavailable for comment.
Philips, which makes household and personal care electronic products such as toothbrushes, headphones and kitchen appliances, as well as auto parts and healthcare products, spends roughly $300 million on media globally.
Philips did not reply to requests for comment.
This article first appeared on PRWeek sister title Campaign