Conor Stewart
Research expert covering health & pharmaceuticals in the UK & Europe
Get in touch with us nowIn 2023, Philips generated around 18.2 billion euros in revenue, the highest annual revenue for the company since 2014. In 2012, revenue amounted to 23.46 billion euros, the highest figure in the provided time interval.
While Philips, officially listed as Koninklijke Philips N.V, started out as a lighting company and then concentrated on electronics, today it is a company focused on healthcare and medical technology. It is now is ranked among the leading medical technology companies in the world. The largest segment within Philips is the diagnosis and treatment segment which generated approximately 9.2 billion euros in sales in 2022.
In 2022, Philips spent over 2.1 billion euros on research and development. Around 77 thousand employees worked for Philips, with over 20.6 thousand employees working in North America. The diagnostics and treatment segment was forecast to continue to grow and remain the largest segment within the company, reaching an annual sales value of 12.2 billion euros by 2024.
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