Editing Philips (section)

==History==
{{see also|Philips (family)}}
[[File:Gerard philips.jpg|thumb|left|150px|[[Gerard Philips]] (1858–1942), founder]]
The Philips Company was founded in 1891, by [[Dutch people|Dutch]] entrepreneur [[Gerard Philips]] and his father Frederik Philips. Frederik, a banker based in [[Zaltbommel]], financed the purchase and setup of an 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 since been adapted and is used as a museum.<ref>{{cite web|url=http://www.philips-museum.com/uk/|title=Philips Museum|website=Philips-museum.com|access-date=30 December 2016|archive-url=https://web.archive.org/web/20161021024613/http://www.philips-museum.com/uk/|archive-date=21 October 2016|url-status=dead}}</ref>

[[File:Philipsfabriekje.jpg|thumb|The first Philips factory in [[Eindhoven]], now a public museum, July 2008]]
In 1895, after a difficult first few years and near-bankruptcy, the Philipses brought in [[Anton Philips|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 Ltd.) in Eindhoven in 1908, followed in 1912 by the foundation of Philips Gloeilampenfabrieken N.V. (Philips Lightbulb Factories Ltd.). After Gerard and Anton Philips changed their family business by founding the Philips [[corporation]], they laid the foundations for the later [[Multinational corporation|multinational]] company.

In the 1920s, the company started to manufacture other products, such as [[Vacuum tube|vacuum tubes]]. For this purpose the [[Van Arkel–de Boer process]] was invented.

In 1924, Philips joined with German lamp trust [[Osram]] to form the [[Phoebus cartel]].<ref>{{cite magazine|url=http://www.time.com/time/magazine/article/0,9171,803625,00.html|title=Corporations: A Very Tough Baby|date=23 July 1945|magazine=[[Time (magazine)|Time Magazine]]|access-date=11 April 2009|archive-url=https://web.archive.org/web/20090801214915/http://www.time.com/time/magazine/article/0,9171,803625,00.html|archive-date=1 August 2009|url-status=dead}}</ref>

=== Radio ===
[[File:Philips Gloeilampenfabrieken 1928.JPG|thumb|left|A share of the Philips Gloeilampenfabrieken, issued 14 December 1928]]
On 11 March 1927, Philips went on the air, inaugurating the shortwave radio station [[PCJJ]] (later PCJ) which was joined in 1929 by a sister station (Philips Omroep Holland-Indië, later PHI). PHOHI broadcast in Dutch to the [[Dutch East Indies]] (now [[Indonesia]]). Later{{When|date=March 2025|reason=Prove that this was “later” and if so, when?}} PHI broadcast in English and other languages to the Eastern hemisphere, while PCJJ broadcast in English, Spanish and German to the rest of the world.{{Citation needed|date=August 2022}}

The international program Sundays commenced in 1928, with host Eddie Startz hosting the ''[[Happy Station Show|Happy Station]]'' show, which became the world's longest-running shortwave program.{{Citation needed|date=March 2025}} 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.

[[File:Philips 930.jpg|thumb|150px|Philips "Chapel" radio model 930A, 1931|alt=Curved, triangular radio with brown wooden cabinet]]
In the early 1930s, Philips introduced the "Chapel", a radio with a built-in loudspeaker.

Philips Radio was absorbed shortly after [[Emancipation|liberation]] when its two shortwave stations were nationalized in 1947 and renamed [[Radio Netherlands Worldwide]], the Dutch International Service. Some PCJ programs, such as ''Happy Station'', continued on the new station.{{Citation needed|date=March 2025}}

===Stirling engine===
Philips was instrumental in the revival of the [[Stirling engine]] when, in the early 1930s, company management decided that offering a low-power portable generator would assist in expanding sales of its radios into parts of the world where electricity was unavailable or where there was an unreliable supply of batteries. Engineers at the company's research lab carried out a systematic comparison of various power sources and determined that the almost forgotten Stirling engine would be most suitable, citing its quiet operation (both audibly and in terms of radio interference) and ability to run on a variety of heat sources (common lamp oil&nbsp;– "cheap and available everywhere"&nbsp;– was favored).<ref>C.M. Hargreaves (1991). ''The Philips Stirling Engine''. [[Elsevier Science]]. {{ISBN|0-444-88463-7}}. pp.28–30.</ref> They were also aware that, unlike steam and internal combustion engines, virtually no serious development work had been carried out on the Stirling engine for many years. Philips asserted that modern materials and know-how would enable great improvements.<ref>''Philips Technical Review'' Vol.9 No.4, page 97 (1947)</ref>

Encouraged by their first experimental engine, which produced 16&nbsp;W of shaft power from a bore and stroke of {{nowrap|30 mm × 25 mm}},<ref>C.M. Hargreaves (1991), Fig. 3</ref> various development models were produced in a program which continued throughout [[World War II]]. By the late 1940s, the "Type 10" was ready to be handed over to Philips' subsidiary Johan de Witt in Dordrecht to be produced and incorporated into a generator set as originally planned. The result, rated at 180/200&nbsp;W electrical output from a bore and stroke of {{nowrap|55 mm × 27 mm}}, was designated MP1002CA (known as the "Bungalow set"). Production of an initial batch of 250 began in 1951, but it became clear that they could not be made at a competitive price, besides the advent of transistor radios with their much lower power requirements meant that the original rationale for the set was disappearing. Approximately 150 of these sets were eventually produced.<ref>C.M. Hargreaves (1991), p.61</ref>

In parallel with the generator set, Philips developed experimental Stirling engines for a wide variety of applications and continued to work in the field until the late 1970s, though the only commercial success was the "reversed Stirling engine" [[Applications of the Stirling engine#Stirling cryocoolers|cryocooler]]. The company filed a large number of patents and amassed a wealth of information, which they later licensed to other companies.<ref>C.M. Hargreaves (1991), p.77</ref>

===Shavers===
The first Philips shaver was introduced in 1939, and was simply called [[Philishave]]. In the US, it was called [[Philips Norelco|Norelco]]. The Philishave has remains part of the Philips product line-up through the present.

===World War II===
On 9 May 1940, the Philips directors learned that the German [[German invasion of the Netherlands|invasion]] of the [[Netherlands]] was to take place the following day. Being prepared, [[Anton Philips]] and his son-in-law [[Frans Otten]], as well as other Philips family members, fled to the United States taking a large amount of the company capital with them. Operating from the US as the '''North American Philips Company''', they managed to run the company throughout the war. At the same time, the company was moved (on paper) to the [[Netherlands Antilles]] to keep it out of German hands.<ref>{{cite web|title=Philips Electronics NV {{!}} Dutch manufacturer|url=https://www.britannica.com/topic/Philips-Electronics-NV|website=Encyclopedia Britannica|language=en|access-date=2 May 2018|archive-date=26 November 2020|archive-url=https://web.archive.org/web/20201126171929/https://www.britannica.com/topic/Philips-Electronics-NV|url-status=live}}</ref>

On 6 December 1942, the British [[No. 2 Group RAF]] undertook [[Operation Oyster]], which heavily damaged the Philips Radio factory in Eindhoven with few casualties among the Dutch workers and civilians.<ref>{{cite web|url=https://www.bbc.co.uk/history/ww2peopleswar/stories/61/a3537461.shtml|title=BBC – WW2 People's War – Operation Oyster, Part 1|website=Bbc.co.uk|access-date=30 December 2016|archive-url=https://web.archive.org/web/20170212204359/http://www.bbc.co.uk/history/ww2peopleswar/stories/61/a3537461.shtml|archive-date=12 February 2017|url-status=live}}</ref> The Philips location in Eindhoven was bombed again by the RAF on 30 March 1943.<ref>{{cite book|url=https://books.google.com/books?id=eDoRBQAAQBAJ&q=philips+++eindhoven+++bombed+++march+++1943&pg=PA140|title=The Bomber Command War Diaries: An Operational Reference Book|first1=Chris|last1=Everitt|first2=Martin|last2=Middlebrook|date=2 April 2014|publisher=Pen and Sword|access-date=30 December 2016|via=Google Books|isbn=9781473834880|archive-date=8 January 2021|archive-url=https://web.archive.org/web/20210108141454/https://books.google.com/books?id=eDoRBQAAQBAJ&q=philips+++eindhoven+++bombed+++march+++1943&pg=PA140|url-status=live}}</ref><ref>{{cite web|url=http://www.wehrmacht-history.com/timeline/1943/30th-march-1943-wwii-timeline.htm|title=30th March 1943 WWII Timeline|first=Mr A I|last=Bruce|website=Wehrmacht-history.com|access-date=30 December 2016|archive-url=https://web.archive.org/web/20170212105810/http://www.wehrmacht-history.com/timeline/1943/30th-march-1943-wwii-timeline.htm|archive-date=12 February 2017|url-status=dead}}</ref>

[[Frits Philips]], the son of Anton, was the only Philips family member to stay in the Netherlands. He saved the lives of 382 Jews by convincing the Nazis that they were indispensable for the production process at Philips.<ref>{{cite news|title=Frits Philips celebrates 100th birthday|date=15 April 2005|access-date=10 January 2015|website=Philips|url=http://www.newscenter.philips.com/main/standard/about/news/news/archive/news2005/article-14959.wpd|archive-url=https://archive.today/20120906042020/http://www.newscenter.philips.com/main/standard/about/news/news/archive/news2005/article-14959.wpd|archive-date=6 September 2012|url-status=dead}}</ref> In 1943, he was held at the [[Herzogenbusch concentration camp|Vught]] internment camp for political prisoners for several months because a strike at his factory reduced production. For his actions in saving the hundreds of Jews, he was recognized by [[Yad Vashem]] in 1995 as a "[[Righteous Among the Nations]]".<ref>''The Encyclopedia of the [[Righteous Among the Nations]]: Rescuers of Jews during the Holocaust: The Netherlands'', Jerusalem: [[Yad Vashem]], 2004, pp. 596–597</ref>

===Car audio===
Philips innovated car audio equipment for many vehicle manufacturers, including [[Audi]], [[BMW]], [[Opel]], [[Peugeot]], [[Renault]], [[Vauxhall Motors|Vauxhall]] and [[Volkswagen]].<ref>{{Cite web |title= Desay |url=https://en.desaysv.com/index.php?id=brand |access-date =2023-12-12 |website=en.desaysv.com/index.php?id=brand}}</ref>
In response to popular culture and consumer spending power, Philips focused on making its technologies accessible. The first compact cassette audio player—ideal for the mass market—was an instant success. It set the global standard for tape recording and was followed by the first stereo compact cassette player, as well as car and portable radio cassette players.<ref>{{Cite web |title= Philips {{!}} Cassette player |url=https://www.philips.com/a-w/about/our-history.html |access-date =2023-12-12 |website=www.philips.com/a-w/about/our-history.html}}</ref>

=== Post-WWII growth ===
After the war, the company was moved back to the Netherlands, with their headquarters in [[Eindhoven]].
[[File:Lichttoren Eindhoven 1.JPG|thumb|The Philips Light Tower in Eindhoven, originally a light bulb factory and later the company headquarters, August 2012<ref>{{citation| url = http://www.reynaers-solutions.com/ru/getpage.asp?i=6| title = PHILIPS Light Tower Complex – The Netherlands |website=Reynaers Aluminium| access-date = 12 September 2011| url-status = dead| archive-url = https://web.archive.org/web/20120120021100/https://www.reynaers-solutions.com/ru/getpage.asp?i=6| archive-date = 20 January 2012}}</ref>]]
[[File:Eindhoven Evoluon 03.jpg|thumb|right|The [[Evoluon]] in Eindhoven, opened in 1966, August 2015]]
In 1949, the company began selling [[television set]]s.<ref name=waarom>{{cite news|title=Waarom stopt Philips met zelf televisies maken?|url=http://www.volkskrant.nl/vk/nl/2680/Economie/article/detail/1876925/2011/04/18/Waarom-stopt-Philips-met-zelf-televisies-maken.dhtml|access-date=18 April 2011|newspaper=[[de Volkskrant]]|date=18 April 2011|archive-date=28 July 2020|archive-url=https://web.archive.org/web/20200728065743/https://myprivacy.dpgmedia.net/?siteKey=PUBX2BuuZfEPJ6vF&callbackUrl=https%3A%2F%2Fwww.volkskrant.nl%2Fprivacy-wall%2Faccept%3FredirectUri%3D%2Fvk%2Fnl%2F2680%2FEconomie%2Farticle%2Fdetail%2F1876925%2F2011%2F04%2F18%2FWaarom-stopt-Philips-met-zelf-televisies-maken.dhtml|url-status=live |language=nl}}</ref> In 1950, it formed [[Philips Records]], which eventually formed part of [[PolyGram]] in 1962. Philips introduced the [[cassette tape|compact cassette]] audio tape format in 1963, and it was wildly successful. Cassettes were initially used for [[dictation machine]]s for office typing [[shorthand|steno]]graphers and by 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.

[[File:PHILIPS D6350.jpg|thumb|right|An early portable compact cassette recorder by Philips (model D6350)]]
Philips introduced the first combination [[Radio receiver|portable radio]] and cassette recorder, which was marketed as the "radio recorder", now better known as the [[boombox]].{{When|date=March 2025|reason=Important to describe the growth and to indicate how rapidly or slowly growth occurred}} Later, the cassette was used in telephone [[answering machine]]s, 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|mass storage device]] for early personal computers in the 1970s and 1980s. Philips reduced the cassette size for professional needs with the [[Mini-Cassette|mini-cassette]], although it was not as successful as the [[Olympus Corporation|Olympus]] [[microcassette]].{{Clarify|reason=Provide a comparison in concrete numbers or else restate based upon a properly cited reference.|date=March 2025}} The mini-cassette became the predominant dictation medium up to the advent of fully [[Dictation machine|digital dictation]] machines.{{citation needed|date=November 2012}} Philips continued manufacturing computer products through the early 1990s as [[Philips Computers]].

In 1972, Philips launched the world's first home [[videocassette recorder]], in the UK, the N1500.{{Citation needed|date=March 2025}} Its relatively bulky{{Vague|reason=“Relatively bulky” compared to what? Can you instead provide actual dimensions?|date=March 2025}} video cassettes could record 30 minutes or 45 minutes. Later one-hour tapes were also offered. As the 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 comedy writer and presenter [[Denis Norden]].<ref>{{cite web|url=http://ftvdb.bfi.org.uk/sift/title/105150|title=BFI – Film & TV Database – The Philips Time Machine (1977)|work=The [[British Film Institute]] Web Database|access-date=16 February 2010|archive-url=https://web.archive.org/web/20090919185932/http://ftvdb.bfi.org.uk/sift/title/105150|archive-date=19 September 2009|url-status=dead}}</ref> The concept was quickly copied by the Japanese makers, whose tapes were significantly cheaper. Philips made one last attempt at a new standard for video recorders with the [[Video 2000]] system, with tapes that could be used on both sides and had 8 hours of total recording time. As Philips only sold its systems on the PAL standard and in Europe, and the Japanese makers sold globally, the scale advantages of the Japanese proved insurmountable and Philips withdrew the V2000 system and joined the VHS Coalition.<ref>{{Cite web |title=Philips Video 2000 – Virtual tour of Museum of Failure |url=https://collection.museumoffailure.com/philips-video-2000/ |access-date=30 May 2024 |language=en-US |archive-date=30 May 2024 |archive-url=https://web.archive.org/web/20240530121244/https://collection.museumoffailure.com/philips-video-2000/ |url-status=dead}}</ref>

[[File:Philips CD-100.JPG|thumb|right|Philips CD-100, the second ever commercially released CD player (after partner Sony's [[Sony CDP-101|CDP-101]])]]
Philips had developed a [[LaserDisc]] early on for selling movies, but delayed its commercial launch for fear of cannibalizing its video recorder sales. Later Philips joined with [[MCA Inc.|MCA]] to launch the first commercial LaserDisc standard and players. In 1982, Philips teamed with Sony to launch the [[compact disc]]; this format evolved into the [[CD-R]], [[CD-RW]], [[DVD]] and later [[Blu-ray]], which Philips launched with Sony in 1997<ref>{{Cite magazine|title=Compact Disc is 25 Years Old|language=en-US|magazine=Wired|url=https://www.wired.com/2007/08/compact-disk-is/|access-date=21 September 2021|issn=1059-1028|archive-date=1 October 2022|archive-url=https://web.archive.org/web/20221001052203/https://www.wired.com/2007/08/compact-disk-is/|url-status=live}}</ref> and 2006 respectively.
[[File:schouhamerimmink.jpg|thumb|left|[[Kees Schouhamer Immink]] (with his [[Emmy]] award in January 2004), Philips' greatest inventor in [[consumer electronics]] in the late 20th century, invented the coding technologies for [[CD]], [[DVD]], [[Blu-ray]], and [[Digital Compact Cassette|DCC]]]]

In 1984, the Dutch Philips Group bought out nearly a one-third share and took over the management of the German company [[Grundig]]. Also in 1984, Philips split off its activities on the field of [[Photolithography|photolithographic]] integrated circuit production equipment, the so-called wafer steppers, into a joint venture with [[ASM International]], located in [[Veldhoven]] under the name [[ASML Holding|ASML]]. Over the years, this new company has evolved into the world's leading manufacturer of chip production machines at the expense of competitors like [[Nikon]] and [[Canon Inc.|Canon]].

=== 1980s–2000s: Decline ===
Philips partnered with Sony again later to develop a new "interactive" disc format called [[CD-i]], described by them as a "new way of interacting with a television set".<ref>{{cite web|url=http://archive.org/details/ACE_Issue_33_1990-06_Future_Publishing_GB|title=ACE – Issue 33 (1990-06)(Future Publishing)(GB)|date=10 June 1990|via=Internet Archive}}</ref> Philips created the majority of CD-i compatible players. After low sales, Philips repositioned the format as a [[video game console]], but it was soon discontinued after being heavily criticized amongst the gaming community.<ref name="gamepro">{{cite magazine |url=http://www.gamepro.com/gamepro/domestic/games/features/111823.shtml |title=The 10 Worst-Selling Consoles of All Time |access-date=1 November 2016 |first=Blake|last=Snow |magazine=[[GamePro]] |date=5 May 2007|archive-url=https://web.archive.org/web/20070508035815/http://www.gamepro.com/gamepro/domestic/games/features/111823.shtml |archive-date=8 May 2007}}</ref><ref name="Jumping">{{cite web|url=https://www.gamesreviews.com/news/07/stephen-radosh-a-qa-with-the-creator-of-hotel-mario/|title=Stephen Radosh: An Interview with the Creator of Hotel Mario|author=Samuel Clemens|date=4 July 2022|website=Games Reviews |archive-url=https://web.archive.org/web/20220705182426/https://www.gamesreviews.com/news/07/stephen-radosh-a-qa-with-the-creator-of-hotel-mario/|archive-date=5 July 2022|url-status=dead|access-date=5 July 2022}}</ref>

In the 1980s, Philips's [[profit margin]] dropped below 1 percent, and in 1990 the company lost more than US$2 billion (biggest corporate loss in Dutch history). Troubles for the company continued into the 1990s as its status as a leading electronics company was swiftly lost.<ref name="auto">{{cite web|url=https://www.channelnewsasia.com/news/cnainsider/philips-reinvented-digital-era-lightbulb-healthcare-technology-9483700|title=Once bleeding billions, how Philips reinvented itself for the digital age|website=CNA|access-date=15 October 2019|archive-date=21 September 2020|archive-url=https://web.archive.org/web/20200921172923/https://www.channelnewsasia.com/news/cnainsider/philips-reinvented-digital-era-lightbulb-healthcare-technology-9483700|url-status=dead}}</ref> In 1985, Philips was the largest founding investor in [[TSMC]]<ref>{{cite web |url=https://semiwiki.com/semiconductor-manufacturers/tsmc/1539-a-brief-history-of-tsmc/ |title=A Brief History of TSMC |website=semiwiki.com |access-date=27 October 2021 |archive-date=27 October 2021 |archive-url=https://web.archive.org/web/20211027232905/https://semiwiki.com/semiconductor-manufacturers/tsmc/1539-a-brief-history-of-tsmc/ |url-status=live}}{{unreliable source?|date=February 2022}}</ref> which was established as a joint venture between Philips, the Taiwan government and other private investors.

In 1990, the newly appointed CEO, Jan Timmer, decided to sell off all businesses that dealt with computers which meant the end of Philips Data Systems as well as other computer activities. In 1991, the businesses were acquired by Digital Equipment Corporation.<ref>{{cite web |date=24 May 2023 |title=The Rise and Fall of Philips Data Systems |url=http://www.diva-portal.org/smash/record.jsf?pid=diva2%3A1842013 |access-date=10 February 2024 |website=Researchgate}}</ref> In 1991, the company's name was changed from N.V. Philips Gloeilampenfabrieken to Philips Electronics N.V.<ref>{{cite news|url=https://www.delpher.nl/nl/kranten/view?coll=ddd&identifier=ABCDDD:010833416:mpeg21:a0218|title=Name change to Philips Electronics N.V.|newspaper=Het Parool|access-date=3 March 2020 |date=28 February 1991|archive-date=6 August 2020|archive-url=https://web.archive.org/web/20200806074145/https://www.delpher.nl/nl/kranten/view?coll=ddd&identifier=ABCDDD:010833416:mpeg21:a0218|url-status=live}}</ref> At the same time, North American Philips was formally dissolved, and a new corporate division was formed in the US with the name Philips Electronics North America Corp.<ref>{{Cite web |title=Trade catalogs from Philips |url=https://americanhistory.si.edu/collections/SILNMAHTL_32117 |access-date=30 May 2024 |website=americanhistory.si.edu |language=en |archive-date=30 May 2024 |archive-url=https://web.archive.org/web/20240530121253/https://americanhistory.si.edu/collections/SILNMAHTL_32117 |url-status=dead }}</ref>

In 1997, the company officers decided to move the headquarters from Eindhoven to [[Amsterdam]] along with the corporate name change to [[Koninklijk]]e Philips Electronics N.V., the latter of which was finalized on 16 March 1998.<ref>{{cite web|url=https://www.trouw.nl/gs-b0329b2a|title=Philips gaat aan naam eindelijk het woord Koninklijke toevoegen|date=17 February 1998|website=Trouw|access-date=10 January 2020}}</ref> In 1997, Philips introduced at CES and CeBIT the first large (42-inch) commercially available flat-panel TV, using Fujitsu plasma displays.<ref>{{cite web | url=https://www.lesechos.fr/1997/04/philips-et-thomson-en-position-dattente-811858 | title=Philips et Thomson en position d'attente | work=Les Echos | date=9 April 1997}}</ref><ref>{{cite web | url=https://www.rtf1.de/news.php?id=18644 | title=20 Jahre Flachbildfernseher - OLED und 4K momentan Spitze der Entwicklung &#124; RTF.1}}</ref><ref>{{cite web | url=https://pr.fujitsu.com/jp/news/1996/Nov/28-e.html | title=Fujitsu is World's First to Mass Produce 42-inch Color Plasma Display Panels}}</ref> In 1998, looking to spur innovation, Philips created an Emerging Businesses group for its Semiconductors unit, based in [[Silicon Valley]]. The group was designed to be an incubator where promising technologies and products could be developed.<ref name=":6">{{cite web|date=13 June 2001|title=Scott McGregor to become new President and CEO of Philips Semiconductors|url=https://smtnet.com/news/index.cfm?fuseaction=view_news&news_id=1542|url-status=dead|archive-url=https://web.archive.org/web/20200702210458/https://smtnet.com/news/index.cfm?fuseaction=view_news&news_id=1542|archive-date=2 July 2020|access-date=2 July 2020|website=smtnet.com|location=[[Amsterdam]]}}</ref><ref>{{Cite news|last=Lineback|first=J. Robert|date=19 October 2001|title=Philips Semi's new emerging business GM hunts for something new|work=EE Times|location=San Jose|url=https://www.eetimes.com/philips-semis-new-emerging-business-gm-hunts-for-something-new/|access-date=2 July 2020|archive-date=6 August 2020|archive-url=https://web.archive.org/web/20200806101213/https://www.eetimes.com/philips-semis-new-emerging-business-gm-hunts-for-something-new/|url-status=live}}</ref>

The move of the headquarters to Amsterdam was completed in 2001. Initially, the company was housed in the [[Rembrandt Tower]]. In 2002, it moved to the Breitner Tower. Philips Lighting, [[Philips Natuurkundig Laboratorium|Philips Research]], [[NXP Semiconductors|Philips Semiconductors]] (spun off as NXP in September 2006), and Philips Design, are still based in Eindhoven. Philips Healthcare is headquartered in both [[Best, Netherlands]] (near Eindhoven) and [[Andover, Massachusetts]], (north of [[Boston]]).

In 2000, Philips bought Optiva Corporation, the maker of [[Sonicare]] [[electric toothbrush]]es. The company was renamed Philips Oral Healthcare and made a subsidiary of Philips DAP. In 2001, Philips acquired [[Agilent Technologies]]' Healthcare Solutions Group (HSG) for EUR 2 billion.<ref>{{cite web|url=https://www.thefreelibrary.com/Philips+Completes+Acquisition+Agilent+Technologies%27+Healthcare...-a076902583|title=Philips Completes Acquisition Agilent Technologies' Healthcare Solutions Group|website=The Free Library |date=1 August 2001 |access-date=6 January 2017|archive-date=19 November 2018|archive-url=https://web.archive.org/web/20181119075053/https://www.thefreelibrary.com/Philips+Completes+Acquisition+Agilent+Technologies%27+Healthcare...-a076902583|url-status=dead}}</ref> Philips created a computer monitors joint venture with [[LG]] called [[LG.Philips Displays]] in 2001. In 2001, after growing the unit's Emerging Businesses group to nearly $1 billion in revenue, [[Scott A. McGregor]] was named the new president and CEO of Philips Semiconductors. McGregor's appointment completed the company's shift to having dedicated CEOs for all five of the company's product divisions, which would in turn leave the Board of Management to concentrate on issues confronting the Philips Group as a whole.<ref name=":6" /> In February 2001 Philips sold its remaining interest in battery manufacturing to its then partner [[Panasonic|Matsushita]] (which itself became [[Panasonic]] in 2008).<ref>{{cite web |url=https://eepower.com/news/philips-sells-interest-in-battery-manufacturing-to-matsushita/ |title=Philips Sells Interest in Battery Manufacturing to Matsushita |last=Shephard |first=Jeff |work=eepower.com |date=20 February 2001 |access-date=10 February 2022 |archive-date=1 October 2022 |archive-url=https://web.archive.org/web/20221001052203/https://eepower.com/news/philips-sells-interest-in-battery-manufacturing-to-matsushita/ |url-status=live}}</ref><ref name="panasonic1">{{cite press release|url=http://panasonic.co.jp/corp/news/official.data/data.dir/en080110-6/en080110-6.html|title=Matsushita Electric to Change Name to Panasonic Corporation |location=Osaka, Japan |publisher=Panasonic Corporation|date=1 October 2008|access-date=3 October 2008|archive-date=18 August 2008|archive-url=https://web.archive.org/web/20080818153136/http://panasonic.co.jp/corp/news/official.data/data.dir/en080110-6/en080110-6.html|url-status=live |language=en}}</ref>

[[File:Philips sense and simplicity.svg|thumb|right|Philips' 2004 slogan]]
In 2004, Philips abandoned the slogan "Let's make things better" in favor of a new one: "Sense and Simplicity".<ref>{{cite web|url = https://www.forbes.com/2005/04/18/0418autofacescan01.html?sh=2625c7f15e39|title = Philips CEO Kleisterlee Sees Good in Bad First-Quarter Results|website = [[Forbes]]|access-date = 22 February 2022|archive-date = 24 February 2022|archive-url = https://web.archive.org/web/20220224205748/https://www.forbes.com/2005/04/18/0418autofacescan01.html?sh=2625c7f15e39|url-status = live}}</ref> 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.{{citation needed|date=June 2021}}

In 2006, Philips bought out the company [[Lifeline Systems, Inc.|Lifeline Systems]] headquartered in [[Framingham, Massachusetts]], in a deal valued at $750 million, its biggest move yet to expand its consumer-health business (M).<ref>{{cite news|url= https://www.wsj.com/articles/SB113765652747250681|title= Philips electronics to buy lifeline to expand in consumer health|newspaper= The Wall Street Journal|date= 20 January 2006|access-date= 7 April 2018|archive-date= 6 August 2020|archive-url= https://web.archive.org/web/20200806135952/https://www.wsj.com/articles/SB113765652747250681|url-status= live}}</ref> In August 2007, Philips acquired the company Ximis, Inc. headquartered in [[El Paso, Texas]], for their Medical Informatics Division.<ref>{{cite web|url=http://www.finanznachrichten.de/nachrichten-2007-08/8833411-philips-to-acquire-healthcare-informatics-company-ximis-inc-to-strengthen-presence-in-the-healthcare-information-technology-market-004.htm|title=Philips to Acquire Healthcare Informatics Company XIMIS Inc. to Strengthen Presence in the Healthcare Information Technology Market|website=Finanznachrichten.de|access-date=7 April 2018|archive-url=https://web.archive.org/web/20180327212815/http://www.finanznachrichten.de/nachrichten-2007-08/8833411-philips-to-acquire-healthcare-informatics-company-ximis-inc-to-strengthen-presence-in-the-healthcare-information-technology-market-004.htm|archive-date=27 March 2018|url-status=live}}</ref> In October 2007, it purchased a Moore Microprocessor Patent (MPP) Portfolio license from The TPL Group.

On 21 December 2007, Philips and [[Respironics, Inc.]] announced a definitive agreement pursuant to which Philips acquired all of the outstanding shares of Respironics for US$66 per share, or a total purchase price of approximately €3.6&nbsp; billion (US$5.1&nbsp;billion) in cash.<ref>{{cite press release|url=http://www.newscenter.philips.com/about/news/press/20071221_pressrelease_respironics.page_20071221_pressrelease_respironics|archive-url=http://arquivo.pt/wayback/20160516125532/http://www.newscenter.philips.com/about/news/press/20071221_pressrelease_respironics.page_20071221_pressrelease_respironics|url-status=dead|archive-date=16 May 2016|title=News center |website=Arquivo.pt|access-date=7 April 2018}}</ref> On 21 February 2008, Philips completed the acquisition of VISICU in Baltimore, Maryland, through the merger of its indirect wholly-owned subsidiary into VISICU. As a result of that merger, VISICU has become an indirect wholly-owned subsidiary of Philips. VISICU was the creator of the eICU concept of the use of Telemedicine from a centralized facility to monitor and care for ICU patients.<ref>{{cite press release |url=http://www.newscenter.philips.com/main/standard/about/news/press/20080221_completion_visicu.wpd |title=Philips completes acquisition of US-based VISICU |location=Amsterdam, The Netherlands |publisher=Philips |date=21 February 2008 |access-date=24 November 2012 |archive-url=https://archive.today/20120911192059/http://www.newscenter.philips.com/main/standard/about/news/press/20080221_completion_visicu.wpd |archive-date=11 September 2012 |url-status=dead}}</ref>

The [[Philips Natuurkundig Laboratorium|Philips physics laboratory]] was scaled down in the early 21st century, as the company ceased trying to be innovative in consumer electronics through [[fundamental research]].<ref>''[[NRC (newspaper)|NRC Handelsblad]]'', 4 September 2010 ''Het nieuwe Philips wordt blij van een iPad-hoesje/The new Philips becomes happy from an iPad cover'', [http://apps.nrc.nl/demo-zaterdag/20100904___/3_17/article3.html Dutch original] {{Webarchive|url=https://web.archive.org/web/20200919072337/http://apps.nrc.nl/demo-zaterdag/20100904___/3_17/article3.html |date=19 September 2020}}:" 'We zijn geen high-tech bedrijf meer, het gaat erom dat de technologieën introduceren die breed gedragen worden door de consument', zegt Valk [..] Consumer Lifestyle is nu zodanig ingericht dat er geen jaren meer gewerkt wordt aan uitvindingen die weinig kans van slagen hebben. [..] De Philips staf windt er geen doekjes om dat het bedrijf niet altijd voorop loopt bij de technologische ontwikkelingen in consumentengoederen."</ref>

In 2010, Philips introduced the Airfryer brand of convection oven at the [[IFA Berlin]] consumer electronics fair.<ref>{{Cite web |last= |date=3 September 2010 |title=Philips debuts the Airfryer – crispy fries without the fat |url=https://newatlas.com/philips-debuts-airfryer/16229/ |access-date=15 June 2023 |website=New Atlas |language=en-US}}</ref><ref>{{Cite news |last=Morales |first=Christina |date=25 January 2022 |title=How the Air Fryer Crisped Its Way Into America's Heart |language=en-US |work=The New York Times |url=https://www.nytimes.com/2022/01/25/dining/air-fryer.html |access-date=15 June 2023 |issn=0362-4331}}</ref><ref name=exnovate>{{Cite web|url=https://www.exnovate.org/airfryer|title=History of the Air Fryer|website=exnovate.org|access-date=26 January 2019|archive-date=16 December 2019|archive-url=https://web.archive.org/web/20191216121453/https://www.exnovate.org/airfryer|url-status=dead}}</ref> Philips announced the sale of its Assembléon subsidiary which made pick-and-place machines for the electronics industry.<ref>{{cite web | url=https://evertiq.com/news/18431 | title=Philips intends to sell the majority of Assembléon | date=26 May 2024}}</ref><ref>{{cite web | url=https://evertiq.com/news/18647 | title=Assembléon: 'We can – and will – only get better' | date=7 January 2011}}</ref>

Philips made several acquisitions during 2011, announcing on 5 January 2011 that it had acquired Optimum Lighting,<ref>{{cite web|title=CapEQ {{!}} Optimum Lighting|url=https://capeq.com/experience/philips-acquires-optimum-lighting/|access-date=25 January 2022|website=CapEQ|language=en|archive-date=25 January 2022|archive-url=https://web.archive.org/web/20220125234012/https://capeq.com/experience/philips-acquires-optimum-lighting/|url-status=live}}</ref> a manufacturer of LED based luminaires. In January 2011, Philips agreed to acquire the assets of Preethi, a leading India-based kitchen appliances company.<ref>{{cite web |url=http://www.moneycontrol.com/news/business/philips-to-merge-preethi-bizfuture_753834.html |title=Philips to merge Preethi biz in future |website=Moneycontrol.com |date=5 September 2012 |access-date=6 January 2017 |archive-date=11 January 2017 |archive-url=https://web.archive.org/web/20170111171509/http://www.moneycontrol.com/news/business/philips-to-merge-preethi-bizfuture_753834.html |url-status=live}}</ref> On 27 June 2011, Philips acquired Sectra Mamea AB, the mammography division of [[Sectra AB]].<ref>{{cite web|url=http://www.sectra.com/medical/press/press_releases/en/medical/2016/2011/item/Sectra-and-Philips-sign-large-mammography-modality-acquisition-deal(631887)|title=Sectra news and press releases – Sectra and Philips sign large mammography modality acquisition deal|website=Sectra.com|access-date=8 April 2016|url-status=dead|archive-url=https://web.archive.org/web/20160422132020/http://www.sectra.com/medical/press/press_releases/en/medical/2016/2011/item/Sectra-and-Philips-sign-large-mammography-modality-acquisition-deal(631887)|archive-date=22 April 2016}}</ref>

Because net profit slumped 85 percent in Q3 2011, Philips announced a cut of 4,500 jobs to match part of an €800 million ($1.1 billion) cost-cutting scheme to boost profits and meet its financial target.<ref>{{cite news |url=https://www.theguardian.com/business/2011/oct/17/philips-cut-4500-jobs-profits |title=Philips to cut 4,500 jobs |newspaper=[[The Guardian]] |date=17 October 2011 |access-date=12 December 2016 |archive-url=https://web.archive.org/web/20170510232250/https://www.theguardian.com/business/2011/oct/17/philips-cut-4500-jobs-profits |archive-date=10 May 2017 |url-status=live}}</ref> In 2011, the company posted a loss of €1.3 billion, but earned a net profit in Q1 and Q2 2012, however the management wanted €1.1 billion cost-cutting which was an increase from €800 million and may cut another 2,200 jobs until end of 2014.<ref>{{cite web|url=https://www.bbc.co.uk/news/business-19554444|title=Philips Electronics cuts another 2,200 jobs|date=11 September 2012|website=Bbc.co.uk|access-date=7 April 2018|archive-url=https://web.archive.org/web/20180819211431/https://www.bbc.co.uk/news/business-19554444|archive-date=19 August 2018|url-status=live}}</ref>
In March 2012, Philips announced its intention to sell, or demerge its television manufacturing operations to [[TPV Technology]].<ref name="EnoughProject2012">{{cite web | url = http://www.enoughproject.org/files/CorporateRankings2012.pdf | title = Taking Conflict Out of Consumer Gadgets: Company Rankings on Conflict Minerals 2012 | access-date = 17 August 2012 |last1=Lezhnev |first1=Sasha |last2=Hellmuth |first2=Alex | date = August 2012 |website= [[Enough Project]] | archive-url = https://web.archive.org/web/20120822173256/http://www.enoughproject.org/files/CorporateRankings2012.pdf | archive-date = 22 August 2012 | url-status = dead}}</ref>

=== 2011–: Focus on healthcare ===
After two decades in decline, Philips went through a major restructuring, shifting its focus from electronics to healthcare. Particularly from 2011 when a new CEO was appointed, Frans van Houten. The new health and medical strategy have helped Philips to thrive again in the 2010s.<ref name="auto"/> On 5 December 2012, the antitrust regulators of the [[European Union]] fined Philips and several other major companies for fixing prices of TV [[cathode-ray tube]]s in two cartels lasting nearly a decade.<ref>{{cite news |title=Philips, LG Electronics, 4 others fined 1.47 billion Euros for EU cartel |url=http://economictimes.indiatimes.com/news/international-business/philips-lg-electronics-4-others-fined-1-47-billion-euros-for-eu-cartel/articleshow/17493208.cms |newspaper=[[The Economic Times]] |date=5 December 2012 |access-date=5 December 2012 |archive-url=https://web.archive.org/web/20130526112242/http://articles.economictimes.indiatimes.com/2012-12-05/news/35620323_1_lg-electronics-cartel-samsung-sdi |archive-date=26 May 2013 |url-status=live}}</ref>

On 29 January 2013, it was announced that Philips had agreed to sell its audio and video operations to the Japan-based [[Funai|Funai Electric]] for €150 million, with the audio business planned to transfer to Funai in the latter half of 2013, and the video business in 2017.<ref>Van, Robert. (29 January 2013) [https://blogs.wsj.com/source/2013/01/29/philips-exits-consumer-electronics/ Philips Exits Consumer Electronics – The Source – WSJ] {{Webarchive|url=https://web.archive.org/web/20171125094913/https://blogs.wsj.com/source/2013/01/29/philips-exits-consumer-electronics/ |date=25 November 2017}}. Blogs.wsj.com. Retrieved on 16 August 2013.</ref><ref name=bbc29113>{{cite news|url=https://www.bbc.co.uk/news/business-21242127|title=Philips to exit hi-fis and DVD players|access-date=2 February 2013|work=BBC News|date=29 January 2013|archive-url=https://web.archive.org/web/20130131104232/http://www.bbc.co.uk/news/business-21242127|archive-date=31 January 2013|url-status=live}}</ref><ref>{{cite news|url=http://uk.reuters.com/article/uk-philips-idUKBRE90S0C820130129|title=Philips exits shrinking home entertainment business|access-date=2 February 2013|work=Reuters|date=29 January 2013|archive-url=https://web.archive.org/web/20130517221657/http://uk.reuters.com/article/2013/01/29/uk-philips-idUKBRE90S0C820130129|archive-date=17 May 2013|url-status=dead}}</ref> As part of the transaction, Funai was to pay a regular licensing fee to Philips for the use of the Philips brand.<ref name=bbc29113/> The purchase agreement was terminated by Philips in October because of breach of contract<ref>[http://www.broadbandtvnews.com/2013/10/25/philips-to-take-legal-action-against-funai/ Philips to take legal action against Funai] {{Webarchive|url=https://web.archive.org/web/20131028033116/http://www.broadbandtvnews.com/2013/10/25/philips-to-take-legal-action-against-funai/ |date=28 October 2013}}. Broadbandtvnews.com (25 October 2013). Retrieved on 9 December 2013.</ref> and the consumer electronics operations remained under Philips. Philips said it would seek damages for breach of contract in the [[United States dollar|US$]]200-million sale.<ref name="ABC">{{cite news|url=https://abcnews.go.com/Technology/wireStory/philips-breaks-off-deal-funai-20679628|title=Philips Breaks off Deal With Funai|last1=Sterling|first1=Toby |last2=Yamaguchi |first2=Mari |work=[[ABC News (United States)|ABC News]] |agency=[[Associated Press]] |access-date=22 June 2014|location=Amsterdam| archive-url=https://web.archive.org/web/20131102130812/https://abcnews.go.com/Technology/wireStory/philips-breaks-off-deal-funai-20679628 | archive-date=2 November 2013}}</ref> In April 2016, the [[International Court of Arbitration]] ruled in favour of Philips, awarding compensation of [[Euro|€]]135 million in the process.<ref>{{cite web|url=http://www.philips.com/a-w/about/news/archive/standard/news/press/2016/20160426-philips-announces-decision-by-icc-international-court-of-arbitration-in-funai-arbitration-case.html|title=Philips announces decision by ICC International Court of Arbitration in Funai arbitration case|date=26 April 2016|website=Philips Electronics|language=en-US|access-date=23 July 2016|archive-date=28 July 2020|archive-url=https://web.archive.org/web/20200728065742/https://www.philips.com/a-w/about/news/archive/standard/news/press/2016/20160426-philips-announces-decision-by-icc-international-court-of-arbitration-in-funai-arbitration-case.html|url-status=live}}</ref>

In April 2013, Philips announced a collaboration with [[Paradox Engineering]] for the realization and implementation of a "pilot project" on network-connected street-lighting management solutions. This project was endorsed by the [[San Francisco Public Utilities Commission]] (SFPUC).<ref>{{cite web |url=http://www.startupticker.ch/en/news/april-2013/paradox-engineering-and-philips-lighting-working-together-on-smart-city-solutions#.Uh8LgNL0HKM |title=Paradox Engineering and Philips Lighting working together on smart city solutions |website=startupticker.ch |access-date=2 September 2013 |archive-url=https://web.archive.org/web/20131203013519/http://www.startupticker.ch/en/news/april-2013/paradox-engineering-and-philips-lighting-working-together-on-smart-city-solutions#.Uh8LgNL0HKM |archive-date=3 December 2013 |url-status=dead}}</ref>

In 2013, Philips removed the word "Electronics" from its name – becoming Royal Philips N.V.<ref>{{cite news|url=http://www.eurexchange.com/blob/exchange-en/4060-497582/497578/2/data/er13096e.pdf|title=Koninklijke Philips Electronics N.V.: Name change|access-date=10 July 2013|website=[[Eurex Exchange]]|date=15 May 2013|archive-url=https://web.archive.org/web/20140223051749/https://www.eurexchange.com/blob/exchange-en/4060-497582/497578/2/data/er13096e.pdf|archive-date=23 February 2014|url-status=dead}}</ref> On 13 November 2013, Philips unveiled its new brand line "Innovation and You" and a new design of its shield mark. The new brand positioning is cited by Philips to signify company's evolution and emphasize that innovation is only meaningful if it is based on an understanding of people's needs and desires.<ref>{{cite news|url=https://www.usa.philips.com/a-w/about/news/archive/standard/news/press/2013/20131113-Philips-unveils-new-brand-direction-centered-around-innovation-and-people.html|title=Philips unveils new brand direction centered around innovation and people|website=Newscenter.philips.com|access-date=5 October 2021|archive-url=https://archive.today/20131120095332/http://www.newscenter.philips.com/us_en/standard/news/press/2013/20131113-Philips-unveils-new-brand-direction-centered-around-innovation-and-people.wpd%23.UoyCXOKgS9g|archive-date=20 November 2013|url-status=live}}</ref> On 28 April 2014, Philips agreed to sell their [[wOOx Technology|Woox Innovations]] subsidiary (consumer electronics) to [[Gibson Brands]] for $US135 million. On 23 September 2014, Philips announced a plan to split the company into two, separating the lighting business from the healthcare and consumer lifestyle divisions.<ref>{{cite news|url=https://www.bbc.com/news/business-29324406|title=Dutch electronics giant Philips plans to split business|website=BBC |access-date=23 September 2014|archive-url=https://web.archive.org/web/20140923085558/http://www.bbc.com/news/business-29324406|archive-date=23 September 2014|url-status=live}}</ref> It moved to complete this in March 2015 to an investment group for $3.3 billion.<ref>{{cite news|url=https://www.wsj.com/articles/philips-sells-lighting-business-to-consortium-1427780362|title=Philips Sells Majority Stake in LED Components, Automotive Business|first=Maarten Van|last=Tartwijk|date=31 March 2015|access-date=30 December 2016|newspaper=[[The Wall Street Journal]]|archive-url=https://web.archive.org/web/20161216020715/http://www.wsj.com/articles/philips-sells-lighting-business-to-consortium-1427780362|archive-date=16 December 2016|url-status=live}}</ref>

In February 2015, Philips acquired Volcano Corporation to strengthen its position in non-invasive surgery and imaging.<ref>{{cite news|url=https://www.reuters.com/article/us-volcano-m-a-philips-idUSKBN0JV0G120141217|title=Philips expands in medical devices with $1.2 billion Volcano deal|first=Thomas|last=Escritt|website=Reuters.com|date=17 December 2014|access-date=7 April 2018|archive-url=https://web.archive.org/web/20150924211558/http://www.reuters.com/article/2014/12/17/us-volcano-m-a-philips-idUSKBN0JV0G120141217|archive-date=24 September 2015|url-status=live}}</ref> In June 2016, Philips spun off its lighting division to focus on the healthcare division.<ref>{{cite news|url=http://www.ft.com/cms/s/0/33f5fa4e-1121-11e6-91da-096d89bd2173.html#axzz4E5CZB2Pp|title=Philips plans to spin off lighting business|website=Financial Times|date=3 May 2016|access-date=30 December 2016|archive-url=https://web.archive.org/web/20160911060033/http://www.ft.com/cms/s/0/33f5fa4e-1121-11e6-91da-096d89bd2173.html#axzz4E5CZB2Pp|archive-date=11 September 2016|url-status=live|last1=Jackson|first1=Gavin}}</ref> In June 2017, Philips announced it would acquire US-based Spectranetics Corp, a manufacturer of devices to treat heart disease, for €1.9 billion (£1.68 billion) expanding its image-guided therapy business.

In May 2016, Philips' lighting division Philips Lighting went through a [[Corporate spin-off|spin-off]] process, and became an independent [[public company]] named Philips Lighting N.V.<ref>{{cite web|url=https://www.signify.com/en-us/our-company|title=Our company|website=Signify|language=en|access-date=29 December 2019|archive-date=8 January 2021|archive-url=https://web.archive.org/web/20210108143625/https://www.signify.com/en-us/our-company|url-status=live}}</ref> In 2017, Philips launched Philips Ventures, with a health technology venture fund as its main focus. Philips Ventures invested in companies including Mytonomy (2017) and DEARhealth (2019).<ref>{{cite web|url=https://www.healthcareitnews.com/news/mytonomy-pulls-7-million-first-funding-round-boost-patient-outcomes|title=Mytonomy pulls in $7 million in first funding round to boost patient outcomes|date=4 December 2017|website=Healthcare IT News|language=en|access-date=3 September 2019|archive-url=https://web.archive.org/web/20190903203636/https://www.healthcareitnews.com/news/mytonomy-pulls-7-million-first-funding-round-boost-patient-outcomes|archive-date=3 September 2019|url-status=dead}}</ref><ref>{{cite web|url=https://www.beckershospitalreview.com/artificial-intelligence/philips-leads-6-8m-funding-round-for-ai-driven-health-tech-startup.html|title=Philips leads $6.8M funding round for AI-driven health tech startup|website=beckershospitalreview.com|access-date=3 September 2019|archive-url=https://web.archive.org/web/20190724120727/https://www.beckershospitalreview.com/artificial-intelligence/philips-leads-6-8m-funding-round-for-ai-driven-health-tech-startup.html|archive-date=24 July 2019|url-status=dead}}</ref> On 18 July 2017, Philips announced its acquisition of TomTec Imaging Systems GmbH.<ref name="Yahoo TomTec">{{cite web |last1=Zachs Equity Research |title=Philips Agrees to Acquire TomTec, Continues Buyout Spree |url=https://finance.yahoo.com/news/philips-agrees-acquire-tomtec-continues-134801775.html |website=finance.yahoo.com |date=19 July 2017 |access-date=22 February 2023}}</ref><ref name="BI TomTec">{{cite web |title=Philips To Buy Germany's TomTec Imaging Systems; Terms Not Disclosed |url=https://markets.businessinsider.com/news/stocks/philips-to-buy-germany-s-tomtec-imaging-systems-terms-not-disclosed-1002181476 |website=Business Insider |access-date=22 February 2023}}</ref>

In 2018, the independent Philips Lighting N.V. was renamed [[Signify N.V.]] However, it continues to produce and market Philips-branded products such as [[Philips Hue]] color-changing LED light bulbs.<ref name="Philips Lighting now Signify">{{Cite press release|url=https://www.signify.com/global/about/news/press-releases/2018/20180516-philips-lighting-is-now-signify/|title=Philips lighting is now Signify|date=16 May 2018|publisher=Signify|access-date=10 July 2018|language=en-GB|archive-url=https://web.archive.org/web/20180703163036/https://www.signify.com/global/about/news/press-releases/2018/20180516-philips-lighting-is-now-signify|archive-date=3 July 2018|url-status=dead}}</ref>

In 2021, [[Philips#Operations|Philips Domestic Appliances]] was purchased by [[Hillhouse Investment|Hillhouse Capital]] for $4.4 billion.<ref>{{Cite news|url=https://www.bloomberg.com/news/articles/2021-03-25/philips-sells-appliances-unit-to-hillhouse-in-4-4-billion-deal|title=Philips Sells Appliances to Hillhouse in $4.4 Billion Deal|newspaper=Bloomberg.com|date=25 March 2021}}</ref> The company, now known as [[Versuni]], continues to sell small appliances under the Philips brand under license.

In 2022, Philips announced that [[Frans van Houten|Frans Van Houten]], who had served as CEO for 12 years would be stepping down, after a key product recall cut the company's market value by more than half over the previous year.<ref>{{Cite news |last=Meijer |first=Bart H. |date=16 August 2022 |title=Philips parts ways with CEO in midst of massive recall |language=en |work=Reuters |url=https://www.reuters.com/business/philips-says-ceo-van-houten-leave-october-2022-08-16/ |access-date=2 July 2023}}</ref> He was to be replaced by Philips's EVP and Chief Business Leader of Connected Care, Roy Jakobs, effective 15 October 2022.<ref>{{Cite web |date=16 August 2022 |title=Roy Jakobs to take over the helm at Philips as Frans van Houten steps down |url=https://www.dutchnews.nl/news/2022/08/roy-jakobs-to-take-over-the-helm-at-philips-as-frans-van-houten-steps-down/ |access-date=23 August 2022 |website=DutchNews.nl |language=en-GB |archive-date=16 August 2022 |archive-url=https://web.archive.org/web/20220816073606/https://www.dutchnews.nl/news/2022/08/roy-jakobs-to-take-over-the-helm-at-philips-as-frans-van-houten-steps-down/ |url-status=live}}</ref><ref>{{Cite web |title=Philips' next CEO, Roy Jakobs, provides 'continuity' amid ongoing recall: Barclays |url=https://www.medtechdive.com/news/philips-next-ceo-roy-jakobs-continuity-amid-recall/629889/ |access-date=23 August 2022 |website=MedTech Dive |language=en-US |archive-date=23 August 2022 |archive-url=https://web.archive.org/web/20220823201405/https://www.medtechdive.com/news/philips-next-ceo-roy-jakobs-continuity-amid-recall/629889/ |url-status=live}}</ref> In 2023, the company announced that it would be cutting 6,000 jobs from the company worldwide over the next two years after reporting 1.6 billion euros in losses during the 2022 financial year. The cuts came in addition to a 4,000-person staff reduction announced in October 2022.<ref>{{Cite web |date=30 January 2023 |title=Dutch electronics giant Philips to cut 6,000 jobs worldwide |url=https://apnews.com/article/philips-electronics-layoffs-faf061f38fea2cf83cb7dba803c5d670 |access-date=30 January 2023 |website=AP NEWS |language=en}}</ref>

In August 2023, [[Exor (company)| Exor N.V.]], the holding company owned by the [[Agnelli family]], took a 15% stake in Philips. The transaction was worth roughly €2.6 billion.<ref>{{Cite news |last1=Borrelli |first1=Silvia Sciorilli |last2=Telling |first2=Oliver |date=14 August 2023 |title=Billionaire Agnelli family takes 15% stake in Philips |work=Financial Times |url=https://www.ft.com/content/1ea784d6-3f9b-4461-a30d-6b56e43ef49b |access-date=14 August 2023}}</ref> On 17 September 2024, Philips announced the introduction of the 160cm FDA approved version of its unique LumiGuide endovascular navigation wire. It also marked the 1000th patient treated with its breakthrough 3D device guidance technology.<ref>{{Cite web |title=Philips announces FDA approval for enhanced LumiGuide guidewire and marks the 1000th patient treated with its breakthrough 3D device guidance technology |url=https://www.philips.com/a-w/about/news/archive/standard/news/press/2024/philips-announces-fda-approval-for-enhanced-lumiguide-guidewire-and-marks-the-1000th-patient-treated-with-its-breakthrough-3d-device-guidance-technology.html |access-date=2024-09-17 |website=Philips |language=en}}</ref>