Koninklijke Philips Electronics N.V. (Royal Philips Electronics N.V.), usually known as Philips, (, ) is one of the largest electronics companies in the world. In 2005, its sales were € 30.395 billion (US$38.7 billion) http://www.philips.com/assets/Downloadablefile//2005-Annual-Report-15168.pdf and it employed 159,709 people in more than 60 countries http://www.philips.com/assets/Downloadablefile//2005-Annual-Report-15168.pdf .