Philips: The Deep Fall of Europe's Tech Giant | Inside the Storm | FD Finance

Rise and Fall of Philips | FD Finance

Techonology giant Philips was a force a to be reckoned with, after making its name as a lighting provider. But fierce Asian competition, poor leadership and overdiversification nearly burnt its lights out. Inside access sheds light on how Philips innovated its way back to the top.

Big businesses rise and fall every day. Inside the Storm: Back from the Brink, is a documentary series that follows the lifecycle of four of the biggest industry players, revealing intimate details on how these major companies were run, and their survival techniques when they nearly fell into the depths.
Supplemented by interviews from industry players and professionals from around the world, this series documents how these business titans survived despite the odds and turbulence hitting them where it matters. Marvel: breaking into the film industry saved the comics publishing giant; Olympus: Japan's largest optical company overcame one of the largest accounting scandal; Philips: innovating out-of-the-box ensured the survival of this technology giant; and Nissan: the iconic Japanese car brand saved by one of the most charismatic and loved CEOs in Asia.
Watch insider testaments to the dealings that transformed industries and prevented these giants from the fall of their businesses.

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#FreeDocumentary #FDFinance #philips
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[JayBrav]

I was an employee of Philips Malaysia in the 80s. Bought a Philips hair dryer in late 80s & its still blowing hot air till today

[mikebikekite]

40 years ago, as a student, I bought a portable Philips radio cassette player. It was a beautiful thing that sounded great with it's ported bass speakers and a volume knob that turned even when you used the remote. I gave it to my brother when I went to work abroad. I recently found out that his adult sun sound still uses it as a stereo!

[PeaceLoveUnityRespect]

I'm not going to lie I haven't replaced my rechargeable Philips electronic razor in 7 years! Not even joking, it works perfectly to this day and it actually holds a significant charge. And I'm watching this on a Philips TV too LoL

[citizenBR]

In 1983, I began studying electronics.
And Philips was a landmark to me.
I saw it as a model of a technology company.
They made everything.
Medical advanced devices (MRI), TV image bulbs, chips...
First CD and DVD players...
I dreamed of becoming a research engineer.

[tonee]

Worked for Philips in the 60's/70's - great company, great people, great products.

[ksaws]

Philips played a crucial role as an early investor and significant stakeholder in ASML, another Dutch company. Today, ASML boasts a market capitalization exceeding $400 billion, making it Europe's second most valuable company.

[robertb]

It's a pity this video fails to mention the importance of Philip's contribution to the development of music recording technology and the production of long playing records. They were one of the biggest recording companies in the 50s and 60s and beyond.

[FZHELL]

I was an employee of Philips in South Africa. It's truly sad to see such a great company losing market share. I suppose Samsung, Nokia and many others have them fierce competition.

[boy_ngiwi]

This used to be my favorite electronics brandby 2006 I was surprised they no longer sold TVs in my country. But they continued to sell DVD 📀players and light bulbs 💡

[grgregg]

I was just starting up as a drafting and design firm in the late 90's and Philips was my first client tasking me with designing a display for a new television with a modern styled analog round clock centered at the bottom. Very nice looking television!

[OffroadingVignesh]

Am from India. I use Philips TV, Shaving machine and also sound bar. The 2nd and 3rd am using for past 5 years. It was awesome. I love Philips.

[rjjemnl]

As a recent PHILIPS medical division mgr I have experienced numerous problems such as numerous quality control, promises of new products based on mere talk as no production was planned shipping holds became and are now common yet sales quota demands remained. The sales force was reduced and new hires were not of the quality that a Fortune company would employ. R&D was reduced and growth was now growth thru acquisition. They are severely missing a huge market share by not genuinely listening to customer needs thru their own sales staff and by believing they know what customers need. The restructurings attitude is still "If you ain't Dutch you ain't much" and their stock reflects the self centered focus. The medical division is sadly losing market share and credibility.

[waltersteenvoorden]

The Eindhoven tech company group which was Philips, and now is ASML, Philips, Signify, NXP and Nexperia still is very dominant if you take in account that these companies combined run a lot of cutting edge tech. That saying, they are so different in nature that they could not function under one management. That's why Philips now makes a select range of products for niche markets and lends it's name to mass market products.

[stephenijiola]

Philip's classic electric dry iron was well reverred in Nigeria. They were notorious for being virtually indestructible.

[garfieldsmith]

Philips like many other European electronics companies (Grundig, Uher, Normende, Tanberg, Telefunken. Dual) started to have issue in the mid 60's. The completion from the Japanese companies who could produce products faster and cheaper in Japan than those manufactured in Europe. Years later Phillips would have to eventually move or outsource production to the Asian companies. Their saving grace at that point was the Philips Cassette which they license free of charge. This was so that it would become the industry standard. Philips electronics were still made in Europe for many years after this but as they consolidated their product lines all were manufactured in Asia. They do make products in a lot of categories, however their AV products are probably now licensed to other manufactures who use their name. They had licensed the name to Funai of Japan, but that deal was later cancelled after some litigation. I had a Philips Reel to Reel tape recorder in the 60s. It was built like a tank.

[Dark_Knight_USA]

Greetings: I serviced their consumer electronics as warranty service centre, prior and in2 the NAP era. Both were pleasurable. The devices were good. The service information, service telations, parts and prices were good. I prefer them over Sony everyday hands down. Such eere yhe good old days of electronics. 8:25

[walletyangu]

Hiring a CEO who's not technical to lead a technical oriented firm is a big mistake.

[fabiodeoliveiraribeiro]

This brand was very successful in Brazil a few decades ago. Today Philips is synonymous with low quality electronic products that quickly stop working well.

[cbr]

During the flat screen era of crt tvs, all brands including philips used philips ICs inside, even trinitrons and wegas were powered by philips ICs.

[paulgilliland]

Our first colour tv was a Phillips . Extraordinary day in the life back then when mostly everyone still had black and white.