Even if you`re not aware of it, it’s hard to imagine your everyday life without Philips. After all, the little Dutch company that used to make just lightbulbs is also the company that eventually gave you the cassette, the laser disc, the electric shaver, the CD and even the Blu-ray–all milestones in the world of technology and consumer electronics. Even baby care such as milk bottles (Avent) the company is involved in. If a new revolutionizing format is created, it’s very likely that it was done by them.
Founded in the Netherlands in 1891 by Frederik and Gerard Philips, from the start they showed an interest in developing new advances, creating the first short wave radio station in 1927 and reviving the stirling engine, always innovating in the process.
World war II proved a tough time for the company though, as some Germans took over the Netherlands and the Philips family was forced to move to the USA. The only remaining member was Frits Philips, who kept the factory running and saved the lives of 382 Jews from his factory in the process. In 1943, he was even held at an internment camp for political prisoners for several months. He was officially recognized for his actions in saving hundreds of Jews in 1995.
But Philips has expanded into something quite different: By now they are one of the biggest companies in the world, mostly focusing on medical technology and technological innovation.
However, in 2022, Philips lost over 65% of the company value, because the company grappled with the fallout from the recall of millions of ventilators used to treat sleep apnoea over worries that foam used in the machines could become toxic. The recall is still affecting the company in 2024.
Is there a positive lightpoint? Actually, yes, besides fixing the ventilator problem, Philips also lights the world. As of 2012, the company is the largest manufacturer of lighting on the planet. Because that’s what Philips does. It moves the world forward, by creating some of the most iconic technological advances in history and giving the world a beacon of light.
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