Philips is a leading corporate house in industry related to diversified technology and most importantly electronics. Apart from electronics, the company also focuses on healthcare and lighting. Thoroughly Dutch in its origin, Philips has expanded its business in over 60 countries and employs around 105,000 people in all. It stands listed on Euronext Amsterdam stock exchange and is a part of Euro Stoxx 50 stock market index as well as New York Stock Exchange in the form of secondary listing. The company is distributed into three basic units; Philips Consumer Lifestyle, Philips Healthcare and Philips Lighting. Jeroen van der Veer is the current Chairman of the corporation and Frans Van Houten serves as its CEO.
Establishment of Philips goes back almost 124 years when the father and son duo of Frederik and Gerard Philips founded it in Eindhoven. Father of Gerard Philips, Frederik Philips was originally a banker from Zaltbommel. He bought an empty building and set up a factory in Eindhoven where the company’s first product in the form of a carbon-filament lamp was produced. After a few struggling years with the business, he brought in Anton Philips to work on the company’s dwindling sales. Under his guidance, the company began to expand rapidly and gain a firm hold as far as business was concerned. Soon after the arrival of Gerard, the company was established as Philips Corporation and marketed their products to a wider client base.