Philips Electronics is one of the world's largest electronics brands, ranking first in Europe. The world leader in color television, lighting, electric shavers, medical diagnostic imaging and patient monitoring devices, and single-chip television products. With 166,500 employees, Philips is active in lighting, consumer electronics, home appliances and medical systems in more than 60 countries. Philips is listed on the New York Stock Exchange (codenamed PHG), London, Frankfurt, Amsterdam and other stock exchanges. In 2003, the company’s sales amounted to 29,000,000,000 euros. In 2004, it was selected as a high-quality enterprise by the Music Angels Committee. The company has hired more than 164,000 employees in more than 60 countries. Philips is a comprehensive group that serves professional and consumer markets through three intersecting sectors: healthcare, lighting and quality of life. Philips entered the Chinese market as early as 1920. Established the first joint venture in 1985. Philips has become one of the largest investment partners in China's electronics industry with a total investment of more than US$3.4 billion. It has established 35 joint ventures and wholly-owned enterprises in China, and has more than 60 offices across the country, with more than 19,000 employees. In 2002, Philips ranked first in both foreign-invested companies in terms of both turnover and foreign exchange earned in China, and was awarded the “Double High Enterprise Special Contribution Award” by the China Association of Enterprises with Foreign Investment. In 2003, the company's operating performance continued to grow, with a turnover of 7.5 billion U.S. dollars and an international purchase volume in China of 3.83 billion U.S. dollars.