Philips

The Philips Company was founded in 1891 by Gerard Philips and his father Frederik. Frederik, a banker based in Zaltbommel, financed the purchase and setup of a modest, empty factory building in Eindhoven, where the company started the production of carbon-filament lamps and other electro-technical products in 1892. This first factory has been adapted and is used as a Museum devoted to light sculpture

In 1895, after a difficult first few years and near bankruptcy, the Philipses brought in Anton, Gerard's younger brother by sixteen years. Though he had earned a degree in engineering, Anton started work as a sales representative; soon, however, he began to contribute many important business ideas. With Anton's arrival, the family business began to expand rapidly, resulting in the founding of Philips Metaalgloeilampfabriek N.V. (Philips Metal Filament Lamp Factory Inc.) in Eindhoven in 1907, followed in 1912 by the foundation of Philips Gloeilampenfabrieken N.V. (Philips Lightbulb Factories Inc.). After Gerard and Anton Philips changed their family business by founding the Philips incorporation, they laid the foundations for the later electronics multinational.

Philips Radio

On 11 March 1927 Philips went on the air with shortwave radio station PCJJ (later PCJ) which was joined in 1929 by sister station PHI. PHI broadcast in Dutch to the Dutch East Indies (now Indonesia) while PCJJ broadcast in English, Spanish and German to the rest of the world.

The international program on Sundays commenced in 1928, with host Eddie Startz hosting the Happy Station show, which became the world's longest-running shortwave program. Broadcasts from the Netherlands were interrupted by the German invasion in May 1940. The Germans commandeered the transmitters in Huizen to use for pro-Nazi broadcasts, some originating from Germany, others concerts from Dutch broadcasters under German control.

Philips Radio did not resume after liberation. Instead' the two shortwave stations were nationalised in 1946 and renamed as Radio Netherlands Worldwide, the Dutch International Service. Some PCJ programs, such as Happy Station, continued on the new station.

History
1945 to 2001

After the war the company was moved back to the Netherlands, with their headquarters in Eindhoven. Many secret research facilities had been locked and successfully hidden from the invaders, which allowed the company to get up to speed again quickly after the war.

In 1949, the company began selling television sets. In 1950, it formed Philips Records.

Philips introduced the audio Compact Audio Cassette tape in 1963, and it was wildly successful. Compact cassettes were initially used for dictation machines for office typing stenographers and professional journalists. As their sound quality improved, cassettes would also be used to record sound and became the second mass media alongside vinyl records used to sell recorded music.

Philips introduced the first combination portable radio and cassette recorder, which was marketed as the "radiorecorder," and is now better known as the boom box. 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 1970s and 1980s. 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 dictation machines.

In 1972 Philips launched the world's first home video cassette recorder, in England, the N1500. Its relatively bulky video cassettes could record 30 minutes or 45 minutes. Later one-hour tapes were also offered. As competition came from Sony's Betamax and the VHS group of manufacturers, Philips introduced the N1700 system which allowed double-length recording. For the first time, a 2-hour movie could fit onto one video cassette. In 1977, the company unveiled a special promotional film for this system in the UK, featuring comedian Denis Norden

2001 to 2011

In 2004, Philips abandoned the slogan "Let's make things better" in favour of a new one: "Sense and simplicity".

In December 2005 Philips announced its intention to sell or demerge its semiconductor division. On 1 September 2006, it was announced in Berlin that the name of the new company formed by the division would be NXP Semiconductors. On 2 August 2006, Philips completed an agreement to sell a controlling 80.1% stake in NXP Semiconductors to a consortium of private equity investors consisting of Kohlberg Kravis Roberts & Co. (KKR), Silver Lake Partners and AlpInvest Partners. On 21 August 2006, 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 2006.

The Philips physics laboratory has scaled down. As of 2010, the company does not try to be innovative in consumer electronics through fundamental research, but continues to improve its many consumer lifestyle products.

2011 to present

Due to the fact that net profit slumped 85 percent in Q3 2011, Philips has announced to cut 4,500 jobs to match part of an €800 million ($1.1 billion) cost-cutting scheme to boost profits and meet its financial target.

Due to the fact that net profit slumped 85 percent in Q3 2011, Philips has announced to cut 4,500 jobs to match part of an €800 million ($1.1 billion) cost-cutting scheme to boost profits and meet its financial target.

Philips has recently made gains in corporate social responsibility: in its 2012 report on progress relating to conflict minerals, the Enough Project rated Philips the fourth highest of 24 consumer electronics companies.

In March 2012 Philips announced its intention to sell, or demerge its television manufacturing operations to TPV Technology. 

In 2011, the company posted a loss of 1.3 billion euros, but earned a net profit in Q1 and Q2 2012, however the management want 1.1 billion euros cost-cutting which will be an increase from 800 million euros and may cut another 2,200 jobs until end of 2014.