The problem is not that big corporations fail - they inevitably will and they arguably should. The problem is that there are no new ones, or at least not enough to make up for the losses.
Even in the case of Philips it spun off NXP (which is not going great neither to be fair), ASML, Signify (lightning business etc)
Siemens also dug their own hole in severe mismanagement ("old people" running the show) and I think there's not much more left there
Out of curiosity, why do you think that?
(though Qualcomm has aprox 3x the quarterly revenue)
Why are they not selling anymore?
Other countries that are still on the first phase and do prioritize beating everyone else, to the detriment of their health and personal life, will start overtaking you... with time, they too will start giving some importance to a healthy life and will start falling behind (China may already have reached that point, as we now see some other Asian countries taking some pieces of the cake - helped no doubt by the West's antagony to China and its authoritarian government)... and so the cycle continues...
The countries that reach the top level in qualify of life, like USA, Australia and most of Europe, tend to still stay quite wealthy, it seems... as they still have a highly educated population capable of creating value for the country and their fellow citizens... so this story seems to be going well so far.
I tend to blame myopic capitalistic class, more interested in punishing trade unions, looking for '800s production organization before anything else.