1) Philips was founded in 1891 in Eindhoven, Netherlands by Anton and Gerard Philips initially manufacturing carbon filament lamps. 2) In the late 20th century, Philips faced tough competition from inexpensive Japanese consumer electronics but was focused on research and development. 3) Philips' mission was to "Improve the quality of people’s lives through timely introduction of meaningful innovations" and their vision was "In a world where complexity increasingly touches every aspects of our daily lives ,we will lead in bringing senses and simplicity to people."