Koninklijke Philips N.V.

Dutch multinational conglomerate specializing in health technology, medical devices, and consumer lifestyle products, headquartered in Amsterdam, Netherlands.

Philips was founded in 1891 by Gerard Philips and his father Frederik Philips in Eindhoven, Netherlands. The company initially manufactured carbon-filament lamps and was one of the first European light bulb manufacturers. Anton Philips, Gerard's younger brother, joined the company in 1895 and led international expansion, establishing sales offices across Europe and in the United States.

The company grew rapidly in the early 20th century, expanding into radio receivers, X-ray tubes, and other electronic products. Philips became a major consumer electronics company, producing radios, televisions, and home appliances. The company developed the compact cassette in 1962 and the compact disc in partnership with Sony in 1982, establishing industry standards in audio technology.

In the late 20th century, Philips expanded into medical technology, developing MRI, CT, and ultrasound systems. The company became a leader in medical imaging and patient monitoring. Philips also maintained a strong consumer electronics presence through its television, audio, and home appliance businesses.

The 21st century brought significant strategic transformation. Philips divested its lighting business in 2016 through the IPO of Signify (formerly Philips Lighting). In 2021, the company sold its domestic appliances business to Hillhouse Capital for EUR 3.7 billion. These divestitures allowed Philips to focus entirely on health technology. The company faced challenges in 2021-2022 with a major recall of sleep apnea devices, which led to leadership changes and operational restructuring.