Royal Philips Electronics is a Dutch diversified technology company founded in 1891. It has major divisions in consumer electronics, medical systems, lighting, and domestic appliances. Philips aims to be a global leader in health and well-being through meaningful innovations that simplify people's lives. Some of its iconic products include light bulbs, electric razors, and flat screen TVs. Philips spends heavily on R&D and aims to strengthen its brand through initiatives like its "Sense and Simplicity" tagline and Green Product certification. It faces opportunities from trends like sustainability but also threats from intense competition and economic challenges.