Philips

Philips is a Dutch multinational company that has transformed from its origins as a lighting and consumer electronics manufacturer into a global leader in health technology.

History

• Founding: The company was founded in Eindhoven, Netherlands, in 1891 by Gerard Philips and his father, Frederik Philips. Initially, they focused on producing carbon-filament lamps and other electro-technical products.
• Early Diversification: The company rapidly expanded, and in the 1920s, it began manufacturing other products like vacuum tubes and, later, radios.
• Consumer Innovations: Philips is known for a number of iconic consumer products and technologies. Key innovations include:
  • The Philishave electric razor (1939, marketed as Norelco in the US).
  • The Compact Cassette (1963), which became a worldwide standard for audio recording.
  • The Compact Disc (CD) (1982), which it co-developed with Sony.
• Shift to Health Technology: In recent decades, Philips has strategically shifted its focus. It divested its consumer electronics division and spun off its lighting division, which is now a separate company called Signify. This strategic move has allowed Philips to concentrate on its core business as a health technology company.

Modern Focus and Products

Today, Philips' mission is to improve people's health and well-being through meaningful innovation. Its operations are centered around three main segments:

1. Diagnosis & Treatment: This segment includes a wide range of medical equipment and solutions for healthcare providers, such as:
   • Diagnostic imaging systems (e.g., MRI, CT scanners, X-ray).
   • Ultrasound equipment.
   • Image-guided therapy solutions.
2. Connected Care: This area focuses on improving patient care through connected technologies, including:
   • Hospital patient monitoring and analytics.
   • Sleep and respiratory care solutions (e.g., CPAP machines).
   • Enterprise informatics.
3. Personal Health: This division offers consumer-facing products designed to improve personal well-being and health, such as:
   • Oral healthcare products (e.g., electric toothbrushes).
   • Personal grooming products (e.g., men's shavers and groomers).

Company Profile

• Headquarters: Amsterdam, Netherlands.
• CEO: Roy Jakobs.
• Founded: May 15, 1891.
• Employees: Philips has a global workforce with tens of thousands of employees in more than 100 countries.
• Financials: The company is a publicly traded company on the Euronext Amsterdam stock exchange.