Philips

Koninklijke Philips Electronics N.V., usually known as Philips, is one of
the largest consumer electronics producers in the world. In 2002, their
sales were €31.8 billion and they employed 166,000 people in more than
60 countries. Philips is organized in a number of business units: Philips
Consumer Electronics, Philips Semiconductors, Philips Lighting, Philips
Medical Systems and Philips Research.

The company was founded in 1891 by Gerard Philips in Eindhoven, the
Netherlands. Their first products were light bulbs. Their first factory
remains as a museum. In the 1920s, the company started to manufacture other
products, and in 1939 their first electric shaver, the Philishave was
introduced. Philips introduced the compact audio cassette tape, which was
wildly successful, though their attempt at a standard for video cassette
recorders, the V2000, was unsuccessful in the face of competition from the
Betamax and VHS standards.

In 1963, Philips introduced the Musicassette, or "compact audio cassette".

In 1983, Philips launched the compact disc in partnership with Sony.

In 1992, Philips launched the ill-fated Digital Compact Cassette format.

ASM Lithography is a spin-off from a division of Philips.

Past and present CEO:

   * 1891--1922: Gerard Philips
   * 1922--1939: Anton Philips
   * 1939--1961: Frans Otten
   * 1961--1971: Frits Philips
   * 1971--1977: Henk van Riemsdijk
   * 1977--1981: Nico Rodenburg
   * 1982--1986: Wisse Dekker
   * 1986--1990: Cornelis Van der Klugt
   * 1990--1996: Jan Timmer
   * 1996--2001: Cor Boonstra
   * 2001 to date: Gerard Kleisterlee

Companies acquired by Philips through the years include Magnavox, Signetics,
Mullard, GTE Sylvania and Westinghouse.

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