Philips history in 6 chapters, written up by RF engineer with 30 years at Philips/NXP https://www.maximus-randd.com/technology-history.html TLDR Commodore level management. It ends with picking inferior but marginally cheaper third party components for TVs instead of using own internal products developed specifically for the role, in effect sinking R&D budget and destroying market leader position.
WSP (World Standard Pinning) "standardization" story with management naive dreams of selling own products in Asia without cannibalizing home European market while simultaneously moving Consumer Hardware Development to Asia .. where all the hardware was thereafter designed with Asian parts first was priceless.
Philips TV division deciding to second source, skipping Philips Tuners division thus eroding own company market share and profit. Then in turn Philips Tuners division commissioning a cheaper clone of Philips MOPLL from Siemens with a huge minimal volume quota, consequently eroding Philips Semiconductors market share by 25% and forcing Tuner division to manufacture inferior products with already obsolete part. Just beautiful, <Chef's Kiss>, Pure genius!
> The most devastating development, however, was purely internal and of severe structural impact.
They are focusing on healthcare and personal care products and are doing pretty well there. Their MRI scanners are well regarded, for instance.
Other electronics like televisions are still produced under the Philips name, but that's just TP-Vision making them in China and slapping the Philips name on it.
Lighting has also been spun off into a separate company (https://www.signify.com/global) which has a license to produce Philips branded products - similar to the TPVision - Philips TV arrangement. Philips itself is fully focused on healthcare these days (and some consumer adjacencies like Toothbrushes and Baby care stuff).
