Philips was founded in the year 1891 in Netherlands, and the founding members of the company were Gerard Philips along with his father Frederik Philips. The brand line of the company is ‘innovation and you’ which is in line with the mission of the company to make a positive difference in the lives of people. Philips has got three business division: customer lifestyle, healthcare and lighting, and is also a leader in consumer electronics like grooming products, electronics etc.
In any business, there are several companies & brands which compete with each other by offering similar products & services.
For any company to thrive, it is not only important for them to improve their own products, but to also look at what their competitor is offering.
Below we look at the top 7 competitors of Philips.
General Electric, regularly contracted as GE, is an American multinational aggregate organization fused in New York, and headquartered in Boston, Massachusetts. This American organization is a multinational conglomerate and had its central command base in Fairfield, Connecticut from where it was moved in 13th January 2016.As of 2016, the organization works through the given segments, Oil and Gas, Power and Water, Aviation, , Transportation Healthcare and Capital which take into account the requirements of Financial administrations, Medical gadgets, Life Sciences, Pharmaceutical, Automotive, Software Development and Engineering industries. It is a public limited organization.
Organization was established in year 1892 by four of its originators in particular Elihu Thomson, Charles A.
LG Corporation formally known as Lucky-Goldstar, is a South Korean company which has made its presence felt in the FMCD goods. This company has a varied range of self-space in the market and carters to the various goods for the customers. The main attention of the consumers usable are the prime interest of the company.
Motorola changed its name from Motorola, Inc. to Motorola Solutions, Inc in 2011. Motorola Solutions is a manufacturer and provider of communication infrastructure, devices, services, software and accessories.
4. RF Micro devices:
RF Micro devices is one of the biggest competitors of Philips.
Samsung is a South Korean company founded by Byung-Chull Lee in 1938. The company started as a trading company and gradually became a multinational conglomerate through many acquisitions and mergers. Samsung Electronics Industry Co Ltd was established in 1969.
Incorporated in Germany, Siemens is a technology company with business divisions in various segments like Power and gas; Wind power and Renewables; Mobility; digital Factory; Energy Management and Healthcare. It was founded in 1847 and is named after its founder Werner von Siemens who was a great inventor and a visionary. Its headquarter is in Munich, Germany.
Sony Corporation is a Japan based multinational group of companies bases in Tokyo. Sony was set up as an electronics store by Masaru Ibuka. It went to produce the first tape recorder.
To conclude, the above article highlights the various competitors which compete with Philips. This understanding helps to evaluate the various external business factors for any company.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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