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Philips
Philips was founded by Gerard Philips and his father Frederik, with their first products being light bulbs. Through the 20th century, it grew into one of the world's largest electronics conglomerates, with global market dominance in products ranging from kitchen appliances and electric shavers to light bulbs, televisions, cassettes, and compact discs (both of which were invented by Philips). At one point, it played a dominant role in the entertainment industry (through PolyGram). However, intense competition from primarily East Asian competitors throughout the 1990s and 2000s led to a period of downsizing, including the divestment of its lighting and consumer electronics divisions, and Philips' eventual reorganization into a healthcare-focused company.[2] As of 2024, Philips is organized into three main divisions: Diagnosis and Treatment (manufacturing healthcare products such as MRI, CT and ultrasound scanners), Connected Care (manufacturing patient monitors, as well as respiratory care products under the Respironics brand), and Personal Health (manufacturing electric shavers, Sonicare electric toothbrushes and Avent childcare products).[3] Philips has a primary listing on the Euronext Amsterdam stock exchange and is a component of the Euro Stoxx 50 stock market index.[4] It has a secondary listing on the New York Stock Exchange. Acquisitions included Signetics and Magnavox. It also founded a multidisciplinary sports club called PSV Eindhoven in 1913. The Philips Company was founded in 1891, by Dutch entrepreneur Gerard Philips and his father Frederik Philips. Frederik, a banker based in Zaltbommel, financed the purchase and setup of an empty factory building in Eindhoven, where the company started the production of carbon-filament lamps and other electro-technical products in 1892. This first factory has since been adapted and is used as a museum.[5]
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