Philips was founded in 1891 and has transformed from primarily producing light bulbs and electronics to focusing on healthcare. Some key events include: - Starting a physics lab in 1914 and introducing medical X-rays in 1918. - Producing the first television in 1938 and introducing the compact audio cassette in 1963. - Partnering with Sony to launch the compact disc in 1982 and DVD in 1997. - Spinning off its semiconductor business in 2006 and acquiring healthcare companies from 2015-2016. - Transforming to focus on digital healthcare, partnerships, and innovation under its current CEO from 2012 onward.