Royal Philips Electronics is one of the world’s biggest electronics companies and Europe’s largest with sales of €29 billion in 2003.
Philips has five product divisions: Consumer Electronics; Domestic Appliances & Personal Care; Lighting; Medical Systems and Semiconductors.
Philips Semiconductors, Inc. designs, manufactures, and markets integrated circuits. The semiconductor business of Philips Electronics was spun off. The new company name NXP (from Next eXPerience) was announced on August 31, 2006. The newly independent NXP was ranked as one of the world’s top 10 semiconductor companies.