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73-518: Varginha achieved moderate fame in UFO circles due to the so-called Varginha UFO incident in 1996, in which two extraterrestrial beings were allegedly spotted by locals and later captured by the Brazilian Army, along with the local police and fire department. After this episode, the city began to invest in "UFO tourism". Today there are bus stops with the shape of spaceships and a water tower downtown also in

146-455: A certain percentage of the production. Varginha was one of the municipalities that received the most Italian immigrants in Brazil during this period. With enormous commitment and hard work, many Italians went on to buy their own land and start their own businesses, which generated great economic development for Varginha and the south of Minas Gerais at the end of the 19th century and the beginning of

219-552: A consortium of private equity investors consisting of Kohlberg Kravis Roberts & Co. (KKR), Silver Lake Partners and AlpInvest Partners . On 21 August 2006, Bain Capital and Apax Partners announced that they had signed definitive commitments to join the acquiring consortium, a process which was completed on 1 October 2006. In 2006, Philips bought out the company Lifeline Systems headquartered in Framingham, Massachusetts , in

292-512: A deal valued at $ 750 million, its biggest move yet to expand its consumer-health business (M). In August 2007, Philips acquired the company Ximis, Inc. headquartered in El Paso, Texas , for their Medical Informatics Division. In October 2007, it purchased a Moore Microprocessor Patent (MPP) Portfolio license from The TPL Group. On 21 December 2007, Philips and Respironics, Inc. announced a definitive agreement pursuant to which Philips acquired all of

365-407: A generator set as originally planned. The result, rated at 180/200 W electrical output from a bore and stroke of 55 mm × 27 mm , was designated MP1002CA (known as the "Bungalow set"). Production of an initial batch of 250 began in 1951, but it became clear that they could not be made at a competitive price, besides the advent of transistor radios with their much lower power requirements meant that

438-442: A key product recall cut the company's market value by more than half over the previous year. He was to be replaced by Philips's EVP and Chief Business Leader of Connected Care, Roy Jakobs, effective 15 October 2022. In 2023, the company announced that it would be cutting 6,000 jobs from the company worldwide over the next two years after reporting 1.6 billion euros in losses during the 2022 financial year. The cuts came in addition to

511-580: A manufacturer of devices to treat heart disease, for €1.9 billion (£1.68 billion) expanding its image-guided therapy business. In May 2016, Philips' lighting division Philips Lighting went through a spin-off process, and became an independent public company named Philips Lighting N.V. In 2017, Philips launched Philips Ventures, with a health technology venture fund as its main focus. Philips Ventures invested in companies including Mytonomy (2017) and DEARhealth (2019). On 18 July 2017, Philips announced its acquisition of TomTec Imaging Systems GmbH. In 2018,

584-559: A multidisciplinary sports club called PSV Eindhoven in 1913. The Philips Company was founded in 1891, by Dutch entrepreneur Gerard Philips and his father Frederik Philips. Frederik, a banker based in Zaltbommel , financed the purchase and setup of an empty factory building in Eindhoven, where the company started the production of carbon-filament lamps and other electro-technical products in 1892. This first factory has since been adapted and

657-546: A plan to split the company into two, separating the lighting business from the healthcare and consumer lifestyle divisions. It moved to complete this in March 2015 to an investment group for $ 3.3 billion. In February 2015, Philips acquired Volcano Corporation to strengthen its position in non-invasive surgery and imaging. In June 2016, Philips spun off its lighting division to focus on the healthcare division. In June 2017, Philips announced it would acquire US-based Spectranetics Corp,

730-721: A wealth of information, which they later licensed to other companies. The first Philips shaver was introduced in 1939, and was simply called Philishave . In the US, it was called Norelco . The Philishave has remained part of the Philips product line-up until the present. On 9 May 1940, the Philips directors learned that the German invasion of the Netherlands was to take place the following day. Being prepared, Anton Philips and his son-in-law Frans Otten , as well as other Philips family members, fled to

803-550: Is a Dutch multinational conglomerate corporation that was founded in Eindhoven in 1891. Since 1997, its world headquarters have been situated in Amsterdam , though the Benelux headquarters is still in Eindhoven. The company gained its royal honorary title in 1998. Philips was founded by Gerard Philips and his father Frederik, with their first products being light bulbs . Through

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876-435: Is considered one of the best for the logistics and transportation industries, close to Brazil's biggest economy centers. Varginha UFO incident The Varginha UFO incident involves a series of events in 1996 when residents of Varginha , Brazil claimed seeing one or more strange creatures and at least one unidentified flying object (UFO). The reports garnered extensive media coverage. Other associated claims include

949-420: Is the most compelling example of a case where literally nothing at all happened that was remotely unusual, and was magnified into a case considered unassailable proof of alien visitation by many. To those believers, I would suggest recalibrating where you set the bar for quality of evidence." These claims have markedly affected tourism to the city of Varginha. Grey alien dolls with football uniforms are sold at

1022-452: Is used as a museum. In 1895, after a difficult first few years and near-bankruptcy, the Philips's brought in Anton , Gerard's younger brother by sixteen years. Though he had earned a degree in engineering, Anton started work as a sales representative; soon, however, he began to contribute many important business ideas. With Anton's arrival, the family business began to expand rapidly, resulting in

1095-696: The Dutch East Indies (now Indonesia ), and later PHI broadcast in English and other languages to the Eastern hemisphere, while PCJJ broadcast in English, Spanish and German to the rest of the world. The international program Sundays commenced in 1928, with host Eddie Startz hosting the Happy Station show, which became the world's longest-running shortwave program. Broadcasts from the Netherlands were interrupted by

1168-580: The International Court of Arbitration ruled in favour of Philips, awarding compensation of € 135 million in the process. In April 2013, Philips announced a collaboration with Paradox Engineering for the realization and implementation of a "pilot project" on network-connected street-lighting management solutions. This project was endorsed by the San Francisco Public Utilities Commission (SFPUC). In 2013, Philips removed

1241-645: The Respironics brand), and Personal Health (manufacturing electric shavers , Sonicare electric toothbrushes and Avent childcare products). Philips has a primary listing on the Euronext Amsterdam stock exchange and is a component of the Euro Stoxx 50 stock market index . It has a secondary listing on the New York Stock Exchange . Acquisitions included Signetics and Magnavox . It also founded

1314-453: The compact cassette audio tape format in 1963, and it was wildly successful. Cassettes were initially used for dictation machines for office typing stenographers and professional journalists. As their sound quality improved, cassettes would also be used to record sound and became the second mass media alongside vinyl records used to sell recorded music. Philips introduced the first combination portable radio and cassette recorder, which

1387-665: The mini-cassette , although it was not as successful as the Olympus microcassette . The mini-cassette became the predominant dictation medium up to the advent of fully digital dictation machines. Philips continued with computers through the early 1990s (see separate article: Philips Computers ). In 1972, Philips launched the world's first home videocassette recorder , in the UK, the N1500. Its relatively bulky video cassettes could record 30 minutes or 45 minutes. Later one-hour tapes were also offered. As

1460-666: The 17th century, when the region still belonged to the Captaincy of São Paulo . The bandeirantes coming from São Paulo via the Paraíba Valley crossed the Mantiqueira mountain range in the region of the Embaú gorge, today's Passa Quatro . Among the São Paulo bandeirantes, the first and foremost was Fernão Dias Pais Leme , who explored the region and headed north into the backlands in search of

1533-466: The 1990s and 2000s led to a period of downsizing, including the divestment of its lighting and consumer electronics divisions , and Philips' eventual reorganization into a healthcare-focused company. As of 2024, Philips is organized into three main divisions: Diagnosis and Treatment (manufacturing healthcare products such as MRI , CT and ultrasound scanners), Connected Care (manufacturing patient monitors , as well as respiratory care products under

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1606-550: The 2010s. On 5 December 2012, the antitrust regulators of the European Union fined Philips and several other major companies for fixing prices of TV cathode-ray tubes in two cartels lasting nearly a decade. On 29 January 2013, it was announced that Philips had agreed to sell its audio and video operations to the Japan-based Funai Electric for €150 million, with the audio business planned to transfer to Funai in

1679-462: The 20th century, it grew into one of the world's largest electronics conglomerates , with global market dominance in products ranging from kitchen appliances and electric shavers to light bulbs , televisions , cassettes , and compact discs (both of which were invented by Philips). At one point, it played a dominant role in the entertainment industry (through PolyGram ). However, intense competition from primarily East Asian competitors throughout

1752-730: The 20th century. The Italians spread trade and founded the wheat mill, now Moinho Sul Mineiro, in partnership with Varginhenses of the time. The construction of the Theatro Capitólio, which follows the Tolentino style and whose decoration is attributed to the Italian Alexandre Vallati, is also attributed to the Italian colony. At the beginning of the 20th century, the small town of Varginha already had many coffee processing establishments. The product has always been an important factor in

1825-508: The Brazilian government, since many of the soldiers known as "pracinhas", who left Varginha and other regions of Brazil, had direct relatives such as uncles and grandparents in the country to which they were sent to fight. In the 1970s, Varginha also received several Japanese families, who immigrated as a result of the Japanese acquisition of a German company at the time, CBC, which had a factory in

1898-549: The Dutch International Service. Some PCJ programs, such as Happy Station , continued on the new station. Philips was instrumental in the revival of the Stirling engine when, in the early 1930s, the management decided that offering a low-power portable generator would assist in expanding sales of its radios into parts of the world where mains electricity was unavailable and the supply of batteries uncertain. Engineers at

1971-531: The Dutch Philips Group bought out nearly a one-third share and took over the management of the German company Grundig . Also in 1984, Philips split off its activities on the field of photolithographic integrated circuit production equipment, the so-called wafer steppers, into a joint venture with ASM International , located in Veldhoven under the name ASML . Over the years, this new company has evolved into

2044-556: The German invasion in May 1940. The Germans commandeered the transmitters in Huizen to use for pro- Nazi broadcasts , some originating from Germany, others concerts from Dutch broadcasters under German control. In the early 1930s, Philips introduced the "Chapel", a radio with a built-in loudspeaker. Philips Radio was absorbed shortly after liberation when its two shortwave stations were nationalized in 1947 and renamed Radio Netherlands Worldwide ,

2117-572: The Japanese makers, whose tapes were significantly cheaper. Philips made one last attempt at a new standard for video recorders with the Video 2000 system, with tapes that could be used on both sides and had 8 hours of total recording time. As Philips only sold its systems on the PAL standard and in Europe, and the Japanese makers sold globally, the scale advantages of the Japanese proved insurmountable and Philips withdrew

2190-611: The Philips Radio factory in Eindhoven with few casualties among the Dutch workers and civilians. The Philips works in Eindhoven was bombed again by the RAF on 30 March 1943. Frits Philips , the son of Anton, was the only Philips family member to stay in the Netherlands. He saved the lives of 382 Jews by convincing the Nazis that they were indispensable for the production process at Philips. In 1943, he

2263-598: The Stirling engine for many years and asserted that modern materials and know-how should enable great improvements. Encouraged by their first experimental engine, which produced 16 W of shaft power from a bore and stroke of 30 mm × 25 mm , various development models were produced in a program which continued throughout World War II . By the late 1940s, the "Type 10" was ready to be handed over to Philips' subsidiary Johan de Witt in Dordrecht to be produced and incorporated into

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2336-649: The United States taking a large amount of the company capital with them. Operating from the US as the North American Philips Company , they managed to run the company throughout the war. At the same time, the company was moved (on paper) to the Netherlands Antilles to keep it out of German hands. On 6 December 1942, the British No. 2 Group RAF undertook Operation Oyster , which heavily damaged

2409-658: The V2000 system and joined the VHS Coalition. Philips had developed a LaserDisc early on for selling movies, but delayed its commercial launch for fear of cannibalizing its video recorder sales. Later Philips joined with MCA to launch the first commercial LaserDisc standard and players. In 1982, Philips teamed with Sony to launch the compact disc ; this format evolved into the CD-R , CD-RW , DVD and later Blu-ray , which Philips launched with Sony in 1997 and 2006 respectively. In 1984,

2482-487: The capture of one or more extraterrestrial beings by the Brazilian authorities, animal fatalities at a zoo, and a woman impregnated by an extraterrestrial. An investigation by the Brazilian Army concluded that a city resident was mistaken for an alien creature and the movement of military personnel in the region was routine. According to media reports, a creature was sighted on the afternoon of 20 January 1996, by three women ranging from 14 to 22 years old. The women described

2555-470: The city. Nowadays, due to the transfer of Taiwanese companies to the region, the city hosts Taiwanese immigrants, who invest, create jobs and work in Varginha. Varginha is a major regional hub for services and industries. Several factories are established in the city such as Philips -Walita, Inovacon , Plascar, Cooper-Standard , SteamMaster and Samsung . There are also a large number of small enterprises in

2628-436: The claim that one of the initial creature witnesses was impregnated by the creature. An official inquiry led by the Brazilian military concluded in 2010 that the young women had encountered a homeless, mentally unstable man nicknamed "Mudinho." The Commander of 24th Police Battalion Military "presented photographs (...) a citizen known as Mudinho, who probably has some mental disability and whose physical characteristics matched

2701-554: The company started to manufacture other products, such as vacuum tubes . For this purpose the Van Arkel–de Boer process was invented. In 1924, Philips joined with German lamp trust Osram to form the Phoebus cartel . On 11 March 1927, Philips went on the air, inaugurating the shortwave radio station PCJJ (later PCJ) which was joined in 1929 by a sister station (Philips Omroep Holland-Indië, later PHI). PHOHI broadcast in Dutch to

2774-583: The company was housed in the Rembrandt Tower . In 2002, it moved to the Breitner Tower. Philips Lighting, Philips Research , Philips Semiconductors (spun off as NXP in September 2006), and Philips Design, are still based in Eindhoven. Philips Healthcare is headquartered in both Best, Netherlands (near Eindhoven) and Andover, Massachusetts , (north of Boston ). In 2000, Philips bought Optiva Corporation,

2847-507: The company's research lab carried out a systematic comparison of various power sources and determined that the almost forgotten Stirling engine would be most suitable, citing its quiet operation (both audibly and in terms of radio interference) and ability to run on a variety of heat sources (common lamp oil – "cheap and available everywhere" – was favored). They were also aware that, unlike steam and internal combustion engines, virtually no serious development work had been carried out on

2920-494: The competition came from Sony 's Betamax and the VHS group of manufacturers, Philips introduced the N1700 system which allowed double-length recording. For the first time, a 2-hour movie could fit onto one video cassette. In 1977, the company unveiled a special promotional film for this system in the UK, featuring comedy writer and presenter Denis Norden . The concept was quickly copied by

2993-446: The creature as a large headed biped with "spots like veins on the skin and some bumps on the head [...] eyes were two red balls." The creature (later termed the "ET de Varginha") seemed to be wobbly or unsteady, and the girls assumed it was injured or sick. They said that they fled and told their mother that they had seen the " devil ". Rumors afterward began to spread through the area, with some people claiming to have observed UFOs in

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3066-432: The days prior. Later, claims were made of additional unidentified creatures/extraterrestrials being collected and observed at a hospital, military/police/government trucks and personnel being active in the area, an unidentified animal "prowling" a local forest, the death of a police officer, and unexplained animal deaths occurring in the local zoo. Ufologists would later allege links between these and other claims, including

3139-536: The description (...) make it likely that the hypothesis that this citizen, probably being dirty, due to the heavy rains and seen crouching by a wall, was mistaken by the three terrified girls as a space creature." The head of the official inquiry also reported that the military trucks and personnel were performing routine duties on the night they were observed, stating, "the presence of the Firefighters in Jardim Andere,

3212-475: The first large (42-inch) commercially available flat-panel TV, using Fujitsu plasma displays. In 1998, looking to spur innovation, Philips created an Emerging Businesses group for its Semiconductors unit, based in Silicon Valley . The group was designed to be an incubator where promising technologies and products could be developed. The move of the headquarters to Amsterdam was completed in 2001. Initially,

3285-406: The founding of Philips Metaalgloeilampfabriek N.V. (Philips Metal Filament Lamp Factory Ltd.) in Eindhoven in 1908, followed in 1912, by the foundation of Philips Gloeilampenfabrieken N.V. (Philips Lightbulb Factories Ltd.). After Gerard and Anton Philips changed their family business by founding the Philips corporation , they laid the foundations for the later multinational company. In the 1920s,

3358-515: The independent Philips Lighting N.V. was renamed Signify N.V. However, it continues to produce and market Philips-branded products such as Philips Hue color-changing LED light bulbs. In 2021, Philips Domestic Appliances was purchased by Hillhouse Capital for $ 4.4 billion. The company, now known as Versuni , continues to sell small appliances under the Philips brand under license. In 2022, Philips announced that Frans Van Houten , who had served as CEO for 12 years would be stepping down, after

3431-561: The indigenous legend of Sabarabuçu. The bandeirantes, who were in search of precious stones and gold regions, passed through the region along the banks of the Rio Verde and Rio Grande , making one of their first points of support near the present-day town of Baependi . Many São Paulo traders ( tropeiros ) also passed through the region frequently, selling products from São Paulo and Portugal. These traders traveled in troops and slept in huts built every six leagues. The current Vargem neighborhood

3504-414: The industrial sector with regional success. It is also one of the biggest producers of coffee in the world. The city's main economy sectors are agriculture (especially coffee), engineering, steel, car parts and metal-mechanics. Varginha has the biggest GDP in the southern region of Minas Gerais , a prosperous area with a high HDI and close to big economy centers in the state of São Paulo . The city

3577-527: The latter half of 2013, and the video business in 2017. As part of the transaction, Funai was to pay a regular licensing fee to Philips for the use of the Philips brand. The purchase agreement was terminated by Philips in October because of breach of contract and the consumer electronics operations remained under Philips. Philips said it would seek damages for breach of contract in the US$ 200-million sale. In April 2016,

3650-475: The location of the incident. Grey alien designs were used in advertising campaigns for the municipality. Bus stops were built in the form of spaceships and a 20 metres tall water tower with a disc-shaped water reservoir was erected in the town center called the Nave Espacial de Varginha . Philips Koninklijke Philips N.V. ( lit.   ' Royal Philips ' ), commonly shortened to Philips ,

3723-447: The maker of Sonicare electric toothbrushes . The company was renamed Philips Oral Healthcare and made a subsidiary of Philips DAP. In 2001, Philips acquired Agilent Technologies ' Healthcare Solutions Group (HSG) for EUR 2 billion. Philips created a computer monitors joint venture with LG called LG.Philips Displays in 2001. In 2001, after growing the unit's Emerging Businesses group to nearly $ 1 billion in revenue, Scott A. McGregor

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3796-495: The mammography division of Sectra AB . Because net profit slumped 85 percent in Q3 2011, Philips announced a cut of 4,500 jobs to match part of an €800 million ($ 1.1 billion) cost-cutting scheme to boost profits and meet its financial target. In 2011, the company posted a loss of €1.3 billion, but earned a net profit in Q1 and Q2 2012, however the management wanted €1.1 billion cost-cutting which

3869-431: The original rationale for the set was disappearing. Approximately 150 of these sets were eventually produced. In parallel with the generator set, Philips developed experimental Stirling engines for a wide variety of applications and continued to work in the field until the late 1970s, though the only commercial success was the "reversed Stirling engine" cryocooler . However, they filed a large number of patents and amassed

3942-466: The outstanding shares of Respironics for US$ 66 per share, or a total purchase price of approximately €3.6  billion (US$ 5.1 billion) in cash. On 21 February 2008, Philips completed the acquisition of VISICU in Baltimore, Maryland, through the merger of its indirect wholly-owned subsidiary into VISICU. As a result of that merger, VISICU has become an indirect wholly-owned subsidiary of Philips. VISICU

4015-497: The parking of Army trucks in the vicinity of the concessionaire where their periodic maintenance would be carried out ... and the departure of EsSA vehicles ... were real facts ... incorrectly interpreted as Firefighters and the Military participating in the capture and later the transport of the alleged creature to Campinas ." Skeptic Brian Dunning criticized sensational media accounts and ufologists' claims. According to Dunning, "It

4088-506: The region's development, mainly due to the strong influence of São Paulo in the area. Another considerable influx was that of Syrian-Lebanese immigrants in the early decades of the 20th century, most of whom made their living in the produce trade in São Paulo. During the Second World War, Varginha sent reinforcements to join the Brazilian troops fighting in Italy. This was an unusual move by

4161-430: The sale of its Assembléon subsidiary which made pick-and-place machines for the electronics industry. Philips made several acquisitions during 2011, announcing on 5 January 2011 that it had acquired Optimum Lighting, a manufacturer of LED based luminaires. In January 2011, Philips agreed to acquire the assets of Preethi, a leading India-based kitchen appliances company. On 27 June 2011, Philips acquired Sectra Mamea AB,

4234-439: The same time, North American Philips was formally dissolved, and a new corporate division was formed in the US with the name Philips Electronics North America Corp. In 1997, the company officers decided to move the headquarters from Eindhoven to Amsterdam along with the corporate name change to Koninklijke Philips Electronics N.V., the latter of which was finalized on 16 March 1998. In 1997, Philips introduced at CES and CeBIT

4307-618: The shape of a spaceship . In August 2004, UFO researchers from all over Brazil came together at the UFO Congress of Varginha, organized with the support of the City Hall. According to the modern (2017) geographic classification by Brazil's National Institute of Geography and Statistics ( IBGE ), the city is the main municipality in the Intermediate Geographic Region of Varginha . The colonization of southern Minas Gerais began in

4380-535: The slogan "Let's make things better" in favor of a new one: "Sense and Simplicity". In December 2005, Philips announced its intention to sell or demerge its semiconductor division. On 1 September 2006, it was announced in Berlin that the name of the new company formed by the division would be NXP Semiconductors . On 2 August 2006, Philips completed an agreement to sell a controlling 80.1% stake in NXP Semiconductors to

4453-554: The word "Electronics" from its name – becoming Royal Philips N.V. On 13 November 2013, Philips unveiled its new brand line "Innovation and You" and a new design of its shield mark. The new brand positioning is cited by Philips to signify company's evolution and emphasize that innovation is only meaningful if it is based on an understanding of people's needs and desires. On 28 April 2014, Philips agreed to sell their Woox Innovations subsidiary (consumer electronics) to Gibson Brands for $ US135 million. On 23 September 2014, Philips announced

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4526-428: The world's leading manufacturer of chip production machines at the expense of competitors like Nikon and Canon . Philips partnered with Sony again later to develop a new "interactive" disc format called CD-i , described by them as a "new way of interacting with a television set". Philips created the majority of CD-i compatible players. After low sales, Philips repositioned the format as a video game console , but it

4599-486: Was an increase from €800 million and may cut another 2,200 jobs until end of 2014. In March 2012, Philips announced its intention to sell, or demerge its television manufacturing operations to TPV Technology . After two decades in decline, Philips went through a major restructuring, shifting its focus from electronics to healthcare. Particularly from 2011 when a new CEO was appointed, Frans van Houten. The new health and medical strategy have helped Philips to thrive again in

4672-496: Was donated. The town was then given the name of Catanduvas or Catandubas; a word originally from the Tupi language , meaning "undergrowth, closed, rough and thorny, of small size". Because of the chapel's patron saint, it was renamed Espírito Santo das Catanduvas. With the expansion of coffee-growing around 1870 in the states of São Paulo and Rio de Janeiro , the southern region of Minas Gerais also began growing coffee on its farms, which

4745-526: Was established as a joint venture between Philips, the Taiwan government and other private investors. In 1990, the newly appointed CEO, Jan Timmer, decided to sell off all businesses that dealt with computers which meant the end of Philips Data Systems as well as other computer activities. In 1991, the businesses were acquired by Digital Equipment Corporation. In 1991, the company's name was changed from N.V. Philips Gloeilampenfabrieken to Philips Electronics N.V. At

4818-586: Was held at the internment camp for political prisoners at Vught for several months because a strike at his factory reduced production. For his actions in saving the hundreds of Jews, he was recognized by Yad Vashem in 1995 as a " Righteous Among the Nations ". After the war, the company was moved back to the Netherlands, with their headquarters in Eindhoven . In 1949, the company began selling television sets . In 1950, it formed Philips Records , which eventually formed part of PolyGram in 1962. Philips introduced

4891-500: Was highly profitable and made many of the region's producers rich. In order to meet the need for an alternative labor force to slavery, since there were no more slaves due to the abolition of slavery , the Brazilian government made an agreement with Italy, in which many Italians came to Brazil with their expenses paid by the Brazilian government; in return, the Italians had to work for a certain period of time in coffee production, receiving

4964-399: Was marketed as the "radio recorder", and is now better known as the boombox . Later, the cassette was used in telephone answering machines , including a special form of cassette where the tape was wound on an endless loop. The C-cassette was used as the first mass storage device for early personal computers in the 1970s and 1980s. Philips reduced the cassette size for professional needs with

5037-596: Was named the new president and CEO of Philips Semiconductors. McGregor's appointment completed the company's shift to having dedicated CEOs for all five of the company's product divisions, which would in turn leave the Board of Management to concentrate on issues confronting the Philips Group as a whole. In February 2001 Philips sold its remaining interest in battery manufacturing to its then partner Matsushita (which itself became Panasonic in 2008). In 2004, Philips abandoned

5110-472: Was one of these resting places. The first known documents about the history of Varginha date back to 1780. The muleteers , who were passing through Varginha on a regular basis, built a small chapel in 1785, close to where the Divine Holy Spirit parish church now stands. In 1806, the chapel of the Divine Holy Spirit of Catanduvas was built and, in the same year, the land required for the district estate

5183-580: Was ranked 7th by Veja Magazine for the Top 20 mid-size cities to invest and live in Brazil. Opened in 2012, the CIT-Centro Industrial Tecnológico ( portuguese for Industrial and technological center ) is a new industrial complex in the city's airport area and its home for the Porto Seco Sul de Minas (South Minas Dry Port), an imports/exports company for the city's coffee industry. Its location

5256-476: Was soon discontinued after being heavily criticized amongst the gaming community. In the 1980s, Philips's profit margin dropped below 1 percent, and in 1990 the company lost more than US$ 2 billion (biggest corporate loss in Dutch history). Troubles for the company continued into the 1990s as its status as a leading electronics company was swiftly lost. In 1985, Philips was the largest founding investor in TSMC which

5329-549: Was the creator of the eICU concept of the use of Telemedicine from a centralized facility to monitor and care for ICU patients. The Philips physics laboratory was scaled down in the early 21st century, as the company ceased trying to be innovative in consumer electronics through fundamental research . In 2010, Philips introduced the Airfryer brand of convection oven at the IFA Berlin consumer electronics fair. Philips announced

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