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Koninklijke Philips Electronics N.V. (Royal Philips Electronics), usually known as Philips, is one of the largest consumer electronics producers in the world.
In 2003, their sales were €29.0 billion and they employed 164,000 people in more than 60 countries. Philips is organized in a number of business units:
Philips Consumer Electronics, Philips Semiconductors, Philips Lighting, Philips Medical Systems and Philips Domestic Appliances and Personal Care.
The company was founded in 1891 by the brothers Gerard and Anton Philips (1874-1951) in Eindhoven, the Netherlands. Their first products were light bulbs 'and other
electrotechnical equipment'. Their first factory remains as a museum. In the 1920s, the company started to manufacture other products, and in 1939 their first electric
shaver, the Philishave, was introduced. Philips introduced the compact audio cassette tape, which was wildly successful, though their attempt to set a standard
for video cassette recorders, the V2000, was unsuccessful in the face of competition from the Betamax and VHS standards.
Companies acquired by Philips through the years include Magnavox, Signetics, Mullard, VLSI, and Westinghouse.
http://www.philips.com/
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