Philips, founded in the Netherlands in 1891, mainly produces lighting, home appliances, and medical systems. Philips has 128,100 employees worldwide in 2007. It has production bases in 28 countries and sales offices in 150 countries. It has 80,000 patents and is superior in strength. On July 11, 2011, Philips announced the acquisition of Pentium Electric (Shanghai) Co., Ltd. for a total amount of about 2.5 billion yuan.
On October 17, 2011, Philips Electronics released its third-quarter financial report. Net profit in the third quarter fell 85.9% year-on-year. At the same time, it announced that Philips would lay off 4,500 people worldwide. At the end of January 2013, Philips' consumer electronics business has been completely divested and will focus on the high-quality living, medical and lighting equipment industries. On December 17, 2014, Beijing time, Philips announced that it would acquire US medical device manufacturer Volcano for $ 1.2 billion. On July 19, 2018, the Fortune Global 500 list was released, and Philips ranked 423.