Philips, founded in 1891 in the Netherlands, mainly produces lighting, home appliances, medical systems products. Philips company, with 128100 employees in 2007, has production bases in 28 countries around the world, sales agencies in 150 countries, 80000 patents and superior strength. On July 11, 2011, Philips announced the acquisition of Pentium electric (Shanghai) Co., Ltd., with an amount of about 2.5 billion yuan.

On October 17th, 2011, Philips Electronics released its third quarter financial report, with net profit in the third quarter falling 85.9% year on year; Meanwhile, it announced that Philips will lay off 4500 employees worldwide. At the end of January 2013, Philips Consumer Electronics business was completely stripped, focusing on the high-quality life, medical and lighting equipment industries. On December 17th, 2014, Beijing time, Philips announced that it would buy volcano, a US medical equipment manufacturer, for $1.2 billion.