Philips is a diversified health and well-being company with businesses in healthcare, consumer lifestyle, and lighting. It has over 121,000 employees worldwide generating €22.6 billion in annual sales. Philips addresses major global trends like population aging, chronic disease management, urbanization, and energy efficiency. It aims to invest €2 billion in green innovations by 2015 and double the recycling of its products. Philips is leading the transition to more sustainable LED lighting, which it expects to comprise over 80% of the lighting market by 2020.