Karyna Malinouskaya
GENERAL INFORMATION
PHILIPS is a Dutch multinational conglomerate corporation
headquartered in Amsterdam, one of the largest electronics companies in the
world, currently focused in the area of healthcare and lighting.
It was founded in Eindhoven in 1891 by Gerard Philips and his father
Frederik, with their first products being light bulbs. It was once one of the
largest electronic conglomerates in the world and currently employs around
74,000 people across 100 countries. The company gained its royal honorary
title in 1998 and dropped the "Electronics" in its name in 2013.
Philips is organized into two main divisions: Philips Consumer Health
and Well-being and Philips Professional Healthcare. The lighting division
was spun off as a separate company, Signify N.V.
The company started making electric shavers in 1939 under
the Philishave brand, and post-war they developed the Compact
Cassette format and co-developed the Compact Disc format with Sony, as
well as numerous other technologies. As of 2012, Philips was the largest
manufacturer of lighting in the world as measured by applicable revenues.
World headquarters in
Amsterdam, Netherlands
LOGO CHANGE
Original Philips shield
introduced in 1938
Philips shield in
use from 1968
until March 2008
Philips Shield in use
until November 2013
The current Philips logo
Philips shield design
introduced in
November 2013
2014 – Philips is one of the three leading companies in the medical solutions market.
Focus
Philips focused on 5 priority areas to expand their integrated solutions capabilities 1) Personal health
2) Definitive diagnosis,
3) Minimally invasive guided therapy
4) Population health management
5) Connected care delivery
Within 4 broad specialties:
1) Cardiology
2) Oncology
3) Respiratory care
4) Fertility, pregnancy and parenting
In the last 5 years the company have successfully teamed up with hospital and health systems to
understand their needs, provide integrated solutions, and engage in multi-year cooperation to
drive improvements in terms of patient outcomes, quality of care delivery and cost productivity.
2016 – Philips enters the medical diagnostic software market.
The company begins to compete with General Electric and Siemens, which occupy most of this rapidly
growing market.
The company creates software for the diagnosis of cancer and other diseases. In particular, applications will
improve the interpretation of data from medical images, highlighting elements in different colors, the
differences between which are not visible at first glance.
Philips is currently developing software that brings the company about 3 billion euros in annual revenue
with a total turnover of 17 billion euros. The medical software market has a growth potential that is twice
the sales dynamics of healthcare equipment.
Philips' main healthcare competitors, GE Healthcare and Siemens Healthineers, are actively promoting
software for doctors.
As part of its IT business development, Philips prefers to develop products on its own instead of getting
them along with the purchase of another company. Philips annual R&D costs are estimated at 1.7 billion
euros, and its own funds by November 27, 2016 - at 300 million euros.
First consumer medical gadgets
On August 1, 2016, Philips Healthcare entered the consumer medical gadget market. The company
introduced several of these devices at once: smart watches, scales, a thermometer and a tonometer.
The products were launched as part of the Personal Health Program initiative, which includes the
creation of smart devices that can be connected to a single data center - the HealthSuite Health mobile
app.
Creation of a surgical navigation system with augmented reality
In January 2017, Philips announced the development, as it claims, of the world's first fully automated
augmented reality surgical navigation system. With its help, surgeons will be able, under visual control, to
conduct not open, but minimally invasive operations on the spine and skull.