Comparable sales growth, however, rose just 2 percent year-on-year with western Europe remaining flat and North America up just 1 percent. Frans van Houten, chief executive of Philips, told CNBC that Europe remained a tough region but emerging markets were growing well.
"Maybe we should tackle Europe first because there there is heightened volatility and indeed our quarter growth and revenue growth was not as strong," van Houten told CNBC in a TV interview on Monday.
"But we had absolutely fabulous growth in China and the other emerging geographies such as Southeast Asia, double digit-order, double-digit growth. But also the United States has performed very well for us, with more than a mid-single-digit order intake growth and revenue growth. So overall, I think Philips shows a balanced picture across the world and let's not forget that Europe for us is less than 25 percent of our revenue."
Shares of Philips were over 4.7 percent higher in morning trade.
Philips said that 5 percent sales growth in its health technology portfolio partly offset a 3 percent decline in the lighting business, which it spun off earlier this year, but still holds a 71 percent stake in. The Dutch firm said costs related to the separation of the lighting business totaled 24 million euros in the third quarter, down from 45 million in the previous three months. Philips is aiming to sell-off its stake in Philips Lighting gradually.
"I've always flagged that it will take some time to gradually sell down our interest in lighting and basically pivot to be a medtech company focused entirely on health technology," van Houten said.
The outlook for 2016 remains unchanged, Philips stated.