Philips health technology and electronics

Founded in 1891 in Eindhoven, Netherlands, by Gerard Philips and his father Frederik, Philips began as a manufacturer of carbon-filament lamps. Over more than a century, it evolved into one of the world's largest electronics conglomerates, responsible for pioneering innovations such as the compact cassette, the CD, and early television technology.

In recent years, the company has undergone a massive strategic transformation, pivoting from consumer electronics to focus primarily on health technology. While Royal Philips remains the core entity for medical equipment, several consumer-facing divisions have been divested or licensed. For instance, Philips-branded televisions and monitors are produced by TPV Technology, and domestic appliances like air fryers are now under a company called Versuni (owned by Hillhouse Capital), which continues to use the Philips brand under license. Manufacturing is global, with major hubs in China, the Netherlands, and India.