Business history of Koninklijke Philips N.V

Philips is a European technology giant founded by Gerard Philips (and engineer) and Anton Philips (a salesman) in Eindhoven, Holland.

The establishment of Philips & Co on 15 May 1891, in Eindhoven occurred at a time when the incandescent lamp industry was about to embark in its second decade.

By 1895, the company started exporting light bulbs to Germany.

Philips pioneered the development of lamps that used tungsten wire after the carbon-filament lamp became obsolete in 1907.

The company began manufacturing vacuum tube and manufacturing radios in the 1920s. It introduced consumer products such as the electric razor in the 1930s and introduced the compact cassette in the 1960s. It was followed by the compact disc in the 1980s and recently Ambilight TV.

Philips was the pioneering radio company in Europe and the contemporary of Westinghouse in Pittsburgh USA.

The long distance short wave service to Batavia and other cities in the Dutch East Indies ran for more than ten years, which ending in May 1940 when the Netherlands were occupied by Germany.

These successes are linked to Philips’ deep understanding of innovation, enabled notably by significant R & D investments and strong traditions in design.

Netherlands remained neutral during World War I, which helped Philips expand its product range and also establish subsidiaries overseas. By 1938, it had thirty eight overseas subsidiaries.

The company has gone though a major process of change and it plans to focus on health care, lifestyle and technology in the future.
Business history of Koninklijke Philips N.V