Dutch electronics company Royal Philips NV (PHIA.AE) expects to achieve EUR250 million savings in the second half of 2009, Chief Executive Gerard Kleisterlee said Tuesday.

Speaking to investors and analysts at the Electrical Products Group Spring Conference in Florida, Kleisterlee said the savings include EUR125 million at Philips' consumer lifestyle unit and EUR60 million at the firm's healthcare division.

Philips expects to save EUR47 million in its lighting division in the second half of 2009. Kleisterlee said he doesn't expect any short-term recovery for this unit in the U.S., adding that the destocking at U.S. retailers seems to have reached its bottom.

The EUR250 million savings are in line with Philips' target to save EUR500 million annually.

-By Maarten van Tartwijk, Dow Jones Newswires; +31 20 571 5201; maarten.vantartwijk@dowjones.com