Dubai, UAE – December 15, 2002 -
Philips and IKEA will enter into a global business partnership. Under the terms of the relationship Philips consumer products, like colour TVs and audio systems, will be shown in furniture displays in all IKEA stores across the world. Philips will also be the preferred supplier to IKEA for all its consumer electronics products. Both parties are exploring options to expand the partnership into other product categories as well as other forms of cooperation. Financial details of this agreement are not disclosed.
Philips recently introduced its Experience Marketing strategy, encompassing three ‘experience domains’. One of the three domains is Home Entertainment, which primarily targets consumers who want a range of customized products for their living rooms that meet their requirements for convenience, excitement and design. These consumers want the latest technology and innovations included in their products; are looking for products emphasizing stylish design; and want total home cinema immersion from state-of-the-art equipment.
“This partnership with IKEA is a natural addition to our market approach following the introduction of our experience strategy,” says Frank Pauli, Vice President, Philips Consumer Electronics Europe and responsible for marketing in the region. “IKEA stores are an experience in itself as they create the image of people really living there. We have noticed a strong overlap between our broad target audiences and the visitors to these stores. Although differing per country, many of the 300 million visitors of IKEA stores have the consumer profile we want to address. We are convinced this agreement will be instrumental in further building the loyal consumer franchise with our target consumers.”
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About Philips
Royal Philips Electronics of the Netherlands is one of the world’s biggest electronics companies and Europe’s largest, with sales of EUR 32.3 billion in 2001. It is a global leader in colour television sets, lighting, electric shavers, medical diagnostic imaging and patient monitoring, and one-chip TV products. Its 184,000 employees in more than 60 countries are active in the areas of lighting, consumer electronics, domestic appliances, components, semiconductors, and medical systems. Philips is quoted on the NYSE (symbol: PHG), London, Frankfurt, Amsterdam and other stock exchanges. News from Philips is located at www.philips.com/newscenter.
For more information please contact:
Cor Vreven
Philips Consumer Electronics
Corporate Communications
Tel: +31 40 27 34224
E-mail: Cor.Vreven@philips.com
Geraldine Jolivet
Philips Electronics Middle East and Africa
Tel: 04 - 33 53 666 Fax: 04 – 309 5160
E-mail: Geraldine.jolivet@philips.com
© Press Release 2002
