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Koninklijke Philips N.V. (literally Royal Philips, stylized as PHILIPS) is a Dutch multinational conglomerate company headquartered in Amsterdam, one of the largest electronics companies in the world, currently focused in the area of healthcare and lighting. It was founded in Eindhoven in 1891 by Gerard Philips and his father Frederik, with their first products being light bulbs. It was once one of the largest electronic conglomerates in the world and currently employs around 74,000 people across 100 countries.[3] The company gained its royal honorary title in 1998 and dropped the "Electronics" in its name in 2013.[4] Philips is organized into two main divisions: Philips Consumer Health and Well-being (formerly Philips Consumer Electronics and Philips Domestic Appliances and Personal Care) and Philips Professional Healthcare (formerly Philips Medical Systems). The lighting division was spun off as a separate company, Signify N.V. (formerly Philips Lighting prior to 2018). The company started making electric shavers in 1939 under the Philishave brand, and post-war they developed the Compact Cassette format and co-developed the Compact Disc format with Sony, as well as numerous other technologies. As of 2012, Philips was the largest manufacturer of lighting in the world as measured by applicable revenues. Philips has a primary listing on the Euronext Amsterdam stock exchange and is a component of the Euro Stoxx 50 stock market index.[5] It has a secondary listing on the New York Stock Exchange. Acquisitions include that of Signetics and Magnavox. They also have had a sports club since 1913 called PSV Eindhoven.