Matej Mikulic
Research expert covering health, pharma & medtech
Philips – Statistics & Facts
Philips is a Dutch electronics company founded by Frederik and Gerard Philips in 1891. The company has grown into a large global conglomerate with a market value of more than 18 billion U.S. dollars. Philips has launched pioneering products that have defined decades, including the CD and DVD, which were both created in partnership with Sony.
Transformation into a health company
Philips made its name in the lighting industry, making carbon-filament lamps, and the company established itself as one of the most trusted lighting brands in the world. Developments in lighting technology helped speed the company’s growth. However, Philips broke with tradition in 2016 and decided to split into two separate companies. The lighting business was listed on the Amsterdam stock exchange as Philips Lighting but changed its name to Signify in 2018. The move signaled a significant shift for Philips, transforming into a health technology company, with a focus on medical and wellness innovations.Key data
Presently, Koninklijke Philips N.V. – as the company is officially listed – provides personal and professional healthcare solutions, and it is among the top ten medical technology companies in the world. Philips generated around 18 billion euros in revenue in 2024. The Dutch company is also regarded as one of the world's most innovative medical technology companies and maintains this by investing around ten percent of revenue in research and development.Company segments
Most of the company’s revenue is generated through its diagnosis and treatment business segment. Within this segment, sales of diagnostic imaging products accounted for 40 percent of all revenues in 2023. Of particular importance is Philips’ work in CT and MRI scanner technology. Looking forward, the company once had a three percent share of the global medtech market but was forecast to drop slightly by 2028.
