Sales of Philips by segment 2021-2023

In 2023, Philips generated approximately 8.8 billion euros in sales from its diagnosis and treatment segment. This was an increase in comparison to the sales value from the preceding two years. Within the diagnostic and treatment segment, sales of diagnostic imaging products accounted for 51 percent of all revenues. Furthermore, connected care accounted for 5.1 billion euros of sales in 2022. 

History of Philips

While Philips, officially listed as Koninklijke Philips N.V, started out as a lighting company and then concentrated on electronics, today it is a company focused on healthcare and medical technology. Philips generated around 17.8 billion euros in revenues in 2022 and is ranked among the leading medical technology companies in the world.

Philips in numbers

Philips spent over 2.1 billion euros on research and development in 2022, so that R&D accounts for over ten percent of the company’s revenues. In 2022, over 77 thousand employees worked for Philips, with North America and Europe each accounting for around 20 thousand workers. The diagnostics and treatment segment within the operations of Philips was forecast to continue to grow and account for an annual sale value of 12.2 billion euros in 2024.