Who owns philips

Our Services. MarketScreener Portfolios. Add to my list. Markets and indexes - Compartiment A. Koninklijke Philips N. In partnership with Allbrands. Philips : Power squeeze curbs Chinese growth, leaves Europe in a gas bind. More Must read. Connections : Philips NV. Neelam Dhawan. Peter D. David Pyott. All rights reserved.

Show password. Add to my list Report. Periodic update on transaction details related to Philips' share repurchases. Business Summary. The Personal Health businesses segment is engaged in the health continuum, delivering integrated, connected solutions that support healthier lifestyles and those living with chronic disease.

The HealthTech Other segment comprises such items, as innovation, emerging businesses, royalties, among others. The Legacy Items segment consists mainly of separation costs, legacy legal items, legacy pension costs, among others. Number of employees : 81 people. Sales per Business. Frits Philips was named president in and managed the firm during a very prosperous decade, so that when, in , Henk van Riemsdijk was appointed president, he took over a company riding the crest of 20 years of uninterrupted postwar success.

The s, however, were a difficult time, as competition from Asia cut into Philips' markets. Many of its smaller, less-profitable factories were closed as the company created larger, more efficient units.

The company also continued its innovative efforts in recording, transmitting, and reproducing television pictures. In , for example, the company introduced the first video cassette recorder to the market. In , Nico Rodenburg became president. Under Rodenburg sales grew steadily for most of the late s and early s, but increased profits did not follow. As Japanese companies, with their large, automated plants, flooded the market with inexpensive consumer electronics, Philips, with factories scattered throughout Europe and rising labor costs, saw its market share continue to decline.

The company's fortunes began to change with the appointment of Wisse Dekker as president and chairman of the board in January, Dekker initiated an ambitious restructuring program intended to control Philips' unwieldy bureaucracy and increasingly haphazard productivity.

After only a few months, Dekker had closed more than a quarter of the company's European plants and had significantly pared down its global work force. Dekker also began to seek acquisitions and joint ventures designed to help concentrate the company's resources on its most profitable and fastest-growing product lines. Philips bought the lighting business of the American company Westinghouse outright, and acquired a When Cornelis van der Klugt assumed the presidency of Philips in , he continued to seek acquisitions and joint ventures to improve the company's market position.

Philips's research in solid-state lasers and microelectronics, resulting in advancements in the processing, storage, and transmission of images, sound, and data, also helped regain part of the market lost to the Japanese. This research produced innovative items such as the LaserVision optical disc, the compact disc, and optical telecommunications systems.

Van der Klugt reorganized the company, eliminating an entire layer of management and setting policy by committee. Van der Klugt also made an effort to globalize the company's structure, improving profitability; in Philips's profits rose 29 percent. Rationalization of operations also played a role in this restructuring.

In , Philips geared up for a major international push into consumer electronics, and targeted U. Indeed, by , consumer electronics accounted for more than 35 percent of the company's sales revenue. In response to Japanese competition, van der Klugt also began to drop non-core activities in favor of development in electronics. In late , for example, the company began a graceful withdrawal from the defense market, where it had maintained a leading stride since developing nuclear control instruments chiefly for nuclear power generation and fire control and radar instruments for missile systems in the s.

The board of directors drafted Jan Trimmer as president to return Philips to profitability. Trimmer's expertise, and his long-standing experience at Philips, made him qualified for the task.

From to , he was president and CEO of PolyGram International, the company's music-industry subsidiary; and in he was promoted to head the high-profile consumer electronics division. Among his many credits, Trimmer was instrumental in spearheading the industry's switch to the digital audio compacts disc CD , which spun out tremendous profits for Philips throughout the s.

Trimmer's initiatives were broad, bold, and swift. By implementing a so-called operation Centurion, the company hoped to make itself more responsive to the competitive marketplace by raising productivity, stimulating cost consciousness, and minimizing office bureaucracy.

In , the company's name was changed to Philips N. In July of that year, the company announced a plan to reduce working capital and the size of its property portfolio by several billions of guilders within several months.

In late , Trimmer beefed up his ambitious reorganization plans for Philips by hiring former Hewlett-Packard executive Frank Carrubba as executive vice-president to take command of virtually every link in the product chain, from research to purchasing and manufacturing, and "fix the whole thing," according to Jonathan B.

Levine in a September 6, Business Week article. Carrubba's experience as a star computer engineer at IBM and his reputation as an "agent for change" at Hewlett-Packard prepared him for the challenges at Philips. In response, Carrubba spearheaded a program of five-year product plans with labs and factories. Philips supplemented its internal rehabilitation program with new alliances and profit-oriented sales. In it announced a partnership with Nintendo to develop CD-based video games. Philips also sold most of its computer business and its stake in Whirlpool appliances back to that company.

In , the company consolidated its VCR and camcorder operations at Grundig, the German electronics manufacturer, while consolidating its 36 percent stake in Grundig with the company's own accounts. Philips also collaborated with Motorola to establish a state-of-the-art facility to manufacture video circuits for the new multimedia CD player.

And the following year Philips's music division turned up the volume by adding the revitalized Motown label to its fold of record companies. Philips continued to ply its strategy of gaining market share by developing new products and then buying into companies that sold them directly to the consumer.

In , for example, Philips bought a 25 percent stake in Whittle Communications, a company that produced a news program for American teens and numerous software packages that could be upgraded using Philips' CD-Interactive system. With consumer electronics still occupying the lion's share of the company's profits, it was not surprising that many key products in the development pipeline were in that division. Such products included: digital compact cassette DCC , a digital extension of the compact cassette system, providing both recording and playback capabilities; High Definition Television HDTV , with better clarity of vision and wider screens than conventional televisions; D2MAC, the intermediary stage between traditional television and HDTV; and CD Interactive CD-i , optical compact disc that merges audio, video, text and graphics into one digital system.

Intense research was also conducted toward development of screen telephones, flat panel displays, and multifunctional digital signal processors for multimedia markets--an area of expertise largely assigned to the company's new TriMedia division based in the United States. Later, the cassette was used in telephone answering machines, including a special form of cassette where the tape was wound on an endless loop. The C-cassette was used as the first mass storage device for early personal computers in the s and s.

Philips reduced the cassette size for the professional needs with the Mini-Cassette, although it would not be as successful as the Olympus Microcassette. This became the predominant dictation medium up to the advent of fully digital dictationmachines. Its relatively bulky video cassettes could record 30 minutes or 45 minutes.

Later one-hour tapes were also offered. For the first time, a 2-hour movie could fit onto one video cassette. In , the company unveiled a special promotional film for this system in the UK, featuring comedian Denis Norden.

The concept was quickly copied by the Japanese makers, whose tapes were significantly cheaper. Philips made one last attempt at a new standard for video recorders with the Video system, with tapes that could be used on both sides and had 8 hours of total recording time. Philips had developed a LaserDisc early on for selling movies, but delayed its commercial launch for fear of cannibalizing its video recorder sales. Philips Gloeilampenfabrieken to Philips Electronics N.

At the same time, North American Philips was formally dissolved, and a new corporate division was formed in the U. In the company officers decided to move the headquarters from Eindhoven to Amsterdam along with the corporate name change to Koninklijke Philips Electronics N.

The move was completed in Initially, the company was housed in the Rembrandt Tower , but in they moved again, this time to the Breitner Tower. In , Philips bought Optiva Corporation, the maker of Sonicare electric toothbrushes.

In December Philips announced its intention to sell or demerge its semiconductor division. On 1 September , it was announced in Berlin that the name of the new company formed by the division would be NXP Semiconductors. On 2 August , Philips completed an agreement to sell a controlling On 21 August , Bain Capital and Apax Partners announced that they had signed definitive commitments to join the acquiring consortium, a process which was completed on 1 October In August Philips acquired the company Ximis, Inc.

On 21 December Philips and Respironics, Inc. The Philips physics laboratory was scaled down in the early 21st century, as the company ceased trying to be innovative in consumer electronics through fundamental research.

In January Philips agreed to acquire the assets of Preethi, a leading India-based kitchen appliances company. In March Philips announced its intention to sell, or demerge its television manufacturing operations to TPV Technology.