Bosch concludes media pitch for China

Bosch has handed its media remit for China to PHD China, following a competitive pitch earlier this year, MARKETING-INTERACTIVE understands.

The win, valued at US$35 million, is effective from January 2025. However, the duration of the partnership is not revealed. The incumbent agency was Carat.

Under the partnership, PHD will handle the media planning, buying and execution of integrated marketing campaigns for Bosch China's corporate segment.

The agency will also handle Bosch China's media strategy and execution, with a focus on elevating the brand's market presence through strategic media placements and campaign solutions.

Back in October, Robert Bosch, the chairman of the German company, said during an interview with German newspaper Der Tagesspiegel it will cut the revenue forecast next year, and there's a possibility for further job cuts in Germany in addition to the 7,000 it has announced earlier. 

The Bosch Group increased its sales and earnings in 2023 and is successfully implementing its growth strategy despite a difficult environment.

Presenting the company’s annual figures in April, Stefan Hartung, chairman of the board of management of Robert Bosch, said: “In the 2023 business year, we achieved our financial targets and strengthened our market position in a number of business areas, from semiconductors to integrated building systems. We’re pursuing innovations, partnerships, and acquisitions to ensure we grow as our industries transform – despite economic headwinds.” 

Moreover, Bosch wants to further reduce costs and change structures in order to remain competitive as its industries transform. Its CFO Markus Forschner said: “We will put the necessary measures in place consistently, but with a sense of proportion.” Any personnel adjustments required will be made without compulsory redundancies and in consultation with social partners.

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