Philips Electronic, the seventh largest electronics retailer sold in the world, has played a vital role in the emergence of electronics. In 1891, Philips was founded by Gérard and his father Frederik Philips in Eindhoven, the Netherlands. Four years later, in 1895, brother Anton Philips joined the company. The company first produced light bulbs, becoming one of the largest manufacturers of this product. In 1914, the company developed and manufactured products for the X-ray and radio technology industry. Over the years, the company developed televisions and electric shavers between 1925 and 1940. Other products developed such as CDs and DVDs. As development continues into the 21st century, the company is concentrating part of its strengths in healthcare, lifestyle and technology. The company's mission is to improve people's lives through meaningful innovation. In 2006, the company sold 80% of its semiconductor business to a group of private equity partners. The company further divides its businesses into three categories: healthcare, lighting and customer lifestyle ("Philips - Heritage", nd, paragraph 10). A company like Philips hosted huge amounts of customer data on its network and in data warehouses. These databases shared information with other divisions of the company around the world. From purchases, warranty and credit card data. The motivation for stealing this type of information is predictable on the World Wide Web. Cybercriminals seize these opportunities when looking for vulnerabilities in a corporate network. Cybercriminals are highly intelligent individuals ranging from young adults to adult criminal organizations around the world. Organizations used the services of hackers to carry out their orders. The expected...... middle of paper ......- Seattle News - City- The Stranger, Seattle's only newspaper. Retrieved from http://www.thstranger.com/seattle/napster-counter-revolutionaries/Content?oid=4139 Philips - Heritage. (Sd). Retrieved from http://www.philips.com/about/company/history/ourheritage/index.page Shwayri, R. (February 2013). IAPP: SEC Cybersecurity Guidelines: A Potential Shift in How Companies Disclose Cyb Risks. Retrieved February 27, 2014, from https://www.privacyassociation.org/publications/2013_01_22_the_secs_cybersecurity_gu idelines_a_potential_game_changer_forWalter, M. (2003). Philips and Sony are preparing a joint DRM solution. Seybold Report: AnalyzingPublishing Technologies, 3 (18), 19. Worth, D. (February 2012). V3.co.uk. Accessed February 2014 from http://www.v3.co.uk/v3-uk/news/2154743/philps-electronics-suffers-website-security-breach-hackers-strike