Philips - the Dutch multinational company was founded in 1891 and has changed its focus several times throughout its history: initially, it produced light bulbs, then switched to consumer electronics, and after the 2000s, it began specializing in medical diagnostic equipment. In 1963, Philips introduced its own compact cassette format and began producing tape recorders for it. In 1971, the company introduced its first video recorder, and in 1979, the compact disc, developed jointly with Sony.