Parent Company: Koninklijke Philips N.V.
Brand value: $10,965 Mil.
Headquarter city: Amsterdam
Year formed: 1891
Koninklijke (Royal) Philips N.V. is a Dutch multinational technology company headquartered in Amsterdam. Philips was founded in Eindhoven in 1891 by Gerard Philips and his father Frederik. Their plan? To bring cost-effective light bulbs to the masses. A string of iconic Philips inventions followed in the coming decades, including cassette, tapes, boomboxes, electric razors, home video recorders, televisions, and more. As Philips grew, it segmented into three columns: Philips Consumer Lifestyle, Philips Healthcare, and Philips Lighting. For many Dutch, Philips’s success is proof that the Netherlands can compete in the global technology realm. In recent years, the company has sharpened its focus on health technology, acquiring firms in the medical imaging, monitoring, and treatment spheres, and spinning off its lighting business. Philips generated 2018 sales of EUR 18.1 billion and employs approximately 77,000 employees, with sales and services in more than 100 countries. Just as significantly, Philips has estimated that its products, many of them green, touch more than 2 billion people’s lives each year. The company’s “Innovation and You” slogan signals that even amidst a strategic refocusing, Philips will always be dedicated to harnessing innovation to improve people’s time on the planet. Green innovation is an increasing focus, as seen in the decrease of their Philips’s operational carbon footprint by 30% in the last year; in 2019, Philips also opened their own windfarm. This initiative should put Philips on course to becoming In the Netherlands. Philips’ sponsorships include the Rijksmuseum, Amsterdam Pride, and PSV Eindhoven. Shares of Philips are listed on Euronext Amsterdam and the New York Stock Exchange.