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As someone from the Netherlands, the mismanagement at Philips has been almost physically painful to witness. Philips used to be one of the big ones, like GE or
by apexalpha 3y ago
As someone from the Netherlands, the mismanagement at Philips has been almost physically painful to witness.
Philips used to be one of the big ones, like GE or Samsung. The mismanagement and slow deathmarch of a giant.
They used to own ASML, they used to own NXP, they owned Panasonic Batteries production I think, they had 30% of all shares in TSMC.
I mean you can forgive a single misstep, but if every single company you sell manages to becomes a de facto global leader in its industry the lack of foresight is something for the history books.
In hindsight, when the business men took over and moved the HQ to Amsterdam, where all the business people are, rather than in Eindhoven, where it was founded and where all the R&D and tech is, was the beginning of the end.
- mschuster91 3y agoIt was just the same with Siemens, at a time one of Germany's most formidable industry giants... all split and sliced up by the MBA sharks. Truly sad to see. On the other hand, it can be said that it can still go worse than that... just look at Boeing and how far they have fallen.
- fransje26 3y ago> In hindsight, when the business men took over and moved the HQ to Amsterdam, where all the business people are, rather than in Eindhoven, where it was founded and where all the R&D and tech is, was the beginning of the end. Hey! That sounds exactly like what happened to a US plane manufacturer that has regularly been in the news the last few years. But Philips has a slight lead in the death count for now.
- glimshe 3y agoI remember Philips from when it was a synonym of quality and advanced technology. After being burned many times in the past 10 years, I just said enough is enough and won't ever buy anything with the Philips brand again.
- yourusername 3y agoPhilips doesn't actually make any of that stuff. All of its consumer facing brands have been spun out or sold off. When you buy Philips headphones you're buying headphones by whatever Chinese company has the license this year.