Koninklijke Philips Electronics N.V. (Royal Philips Electronics N.V.), usually known as Philips, ( , ) is one of the largest electronics companies in the world, founded and headquartered in the Netherlands. In 2006, its sales were €26.976 billion and it employed 125,500 people in more than 60 countries. Philips is organized in a number of sectors: Philips Consumer Lifestyle (formerly Philips Consumer Electronics and Philips Domestic Appliances and Personal Care), Philips Lighting and Philips Healthcare (formerly Philips Medical Systems).