Reducing Activities: company scaling back some business operations while continuing others
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Koninklijke Philips N.V. is a Dutch multinational conglomerate corporation. Philips was formerly one of the largest electronics companies in the world, but is currently focused on the area of health technology, having divested from other divisions.
Reducing Activities: company scaling back some business operations while continuing others
Wait Scaling BackGlobal 500, is an annual ranking of the top 500 corporations worldwide
Global 500Top 100 largest companies in Russia by revenue
Top 100Suspended sales and marketing activities in Russia. On 23 May 2023, Philips Medical Systems informed its distributor in Russia that it is ceasing export to Russia until further notice. Not only did Philips stop export but already shipped units were shut out of maintenance and upgrading services. Philips was the first of several industry giants to falter under pressure.
The company made a statement about humanitarian support of Ukraine. Stopping supplies to Russia and marketing activities. Dutch health technology company Philips (PHG.AS) will continue to deliver hospital equipment to Russia, despite its war on Ukraine, Chief Executive Officer Roy Jakobs said on Tuesday. Jakobs said Philips' activities in Russia centred on the maintenance and delivery of hospital equipment such as large medical scanners, while it has stopped the sale of its personal healthcare products there - except for maternal care products.