Philips Marketcap, Revenue, Net Worth, Competitors 2025

Gerard Philips and his father Frederik founded the Philips Company, with Frederik financing the purchase of a factory building in Eindhoven where production of carbon-filament lamps began in 1892.

After difficult early years and near bankruptcy, Anton Philips joined the company as a sales representative. His business acumen and engineering background helped transform the struggling family business into a growing enterprise.

Philips Metaalgloeilampfabriek N.V. (Philips Metal Filament Lamp Factory Inc.) was founded in Eindhoven, marking the formal expansion of the family business into a corporate structure.

Philips Gloeilampenfabrieken N.V. (Philips Lightbulb Factories Inc.) was established, further consolidating the company’s position as a major lighting manufacturer and laying foundations for the electronics multinational.

The company diversified beyond lighting, beginning manufacture of vacuum tubes and other electronic products, expanding its technological capabilities beyond its original lightbulb focus.

Philips launched shortwave radio station PCJJ on March 11th, entering the broadcasting business. The station broadcast internationally in English, Spanish, and German, expanding the company’s global presence.

The Happy Station show with host Eddie Startz commenced on Sundays, becoming the world’s longest-running shortwave program and establishing Philips’ prominence in international radio broadcasting.

Philips developed the Stirling engine for portable generators to support radio sales in areas without electricity. The company also introduced innovative radio designs including the Chapel radio with built-in loudspeaker.

Philips introduced the Philishave electric razor, marketed as Norelco in the United States, diversifying into personal care products that would become a major business segment.

On May 9th, Philips directors learned of the impending German invasion. Anton Philips and family members fled to the United States with company capital, operating as North American Philips Company throughout World War II.

Frits Philips, Anton’s son who remained in the Netherlands, saved 382 Jews by convincing Nazis of their production necessity. He was held at Vught internment camp after a strike reduced factory output.

Philips Radio’s shortwave stations were nationalized and renamed Radio Netherlands Worldwide after liberation, though programs like Happy Station continued on the new station.

The company entered the television market, beginning sales of television sets and expanding its consumer electronics portfolio beyond radio and lighting products.

Philips formed Philips Records, entering the music recording and distribution business, which complemented its audio equipment manufacturing operations.

Philips introduced the Compact Audio Cassette tape, achieving tremendous commercial success. Initially used for dictation, cassettes became the second mass media format for recorded music alongside vinyl records.

Philips launched the world’s first home video cassette recorder, the N1500, in England. The system recorded 30 to 45 minutes on relatively bulky cassettes, pioneering home video recording.

The company introduced the N1700 video system allowing double-length recording, enabling two-hour movies on single cassettes. Competition from Sony Betamax and VHS manufacturers intensified.

Philips partnered with Sony to launch the Compact Disc format, revolutionizing digital audio. This collaboration evolved into DVD and later Blu-ray formats launched in 1997 and 2006 respectively.

The company’s name changed from N.V. Philips Gloeilampenfabrieken to Philips Electronics N.V., reflecting its evolution into a comprehensive electronics manufacturer beyond lighting.

Frits Philips was recognized by Yad Vashem as Righteous Among the Nations for saving hundreds of Jews during World War II, honoring his wartime humanitarian actions.

Company officers decided to relocate headquarters from Eindhoven to Amsterdam with corporate name change to Koninklijke Philips Electronics N.V., completed in 2001.

Philips acquired Optiva Corporation, maker of Sonicare electric toothbrushes. The company was renamed Philips Oral Healthcare and became a subsidiary of Philips DAP.

Philips abandoned its slogan “Let’s make things better” in favor of “Sense and simplicity,” signaling a strategic shift toward user-focused innovation and simplified product experiences.

Philips completed the sale of 80.1% stake in its semiconductor division to create NXP Semiconductors, with private equity consortium including KKR, Silver Lake Partners, and AlpInvest Partners acquiring control.

Philips announced acquisition of Respironics, Inc. for approximately €3.6 billion in cash, significantly expanding its healthcare portfolio with respiratory care and sleep therapy products.

Philips completed acquisition of VISICU Baltimore, creator of the eICU telemedicine concept for centralized ICU patient monitoring, strengthening its healthcare informatics capabilities.

Philips agreed to acquire Preethi, a leading India-based kitchen appliances company. The company posted a €1.3 billion loss and announced 4,500 job cuts as part of cost-reduction measures.

European Union antitrust regulators fined Philips and several major companies for price-fixing of TV cathode-ray tubes. Philips announced intention to sell television manufacturing operations to TPV Technology.

Philips removed “Electronics” from its corporate name, becoming Royal Philips N.V. The company unveiled new brand line “Innovation and You” with redesigned shield mark emphasizing people-focused innovation.

Philips agreed to sell Woox Innovations subsidiary to Gibson Brands for $135 million, continuing its strategic exit from consumer electronics to focus on healthcare and lighting.