Dubai, UAE: 9th May 2007 - Philips Shavers today announced it has sold its 500 millionth electric shaver. Philips Shavers, the world leader in the electric shaving category, has 68 years of heritage of developing world-class shavers, and also owns the accolade of inventing rotary shaving.  As part of Royal Philips Electronics Group, Philips Shavers are sold internationally in over 56 countries and are found in bathrooms from Sweden to Argentina, from the West Coast of America to the far edges of Russia. 

Global market leader in electric shavers

Andrea Ragnetti, CEO of Philips Domestic Appliances and Personal Care and Chief Marketing Officer of Royal Philips Electronics commented, "We are the market leader in the electric shaver category, year after year. To have reached this milestone cements that fact that we are bringing products to market, which consistently meet our consumers needs." Philips technology has been advancing and simplifying people's lives since 1891. Philips pioneered major breakthroughs in medical imaging, television, lighting, as well as being the inventors of rotary shaving.  From a company with such high standards in product development, it is no surprise that the Philips Shavers have gone from strength to strength over the last 68 years. "If you are going to buy an electric shaver, we want customers to think of Philips first. To have sold this many shavers in our 68 yeas history shows us we're on the right track", Andrea Ragnetti concluded.

Producing a shaving range to keep consumer interested

Producing a shaver range to innovate consumers and trade partners is key to the success of the business. In 1939, Philips launched its first electric shaver, 'The Cigar', to the world. Men were invited to experience the latest in technological wizardry - the electric shaver with rotary action. In 1959, to keep up with the explosion in consumer demand, revolutionary new technologies such as floating shaving heads were introduced, and in 1978 the creation of the world's first mains and rechargeable shaver was launched.  Philips has consistently set new category standards in the shaving category. Nico Engelsman, Business Manager Shaving and Senior Vice President Philips DAP said, "Over the last six decades, we have addressed the changing needs of our consumer, taking regional differences into account. We're also constantly addressing innovation in the shaver itself. We are focused on developing shavers that are designed to suit the places they are sold. We produce shavers that reflect local tastes, trends, bathrooms and shaving habits, and that's why I think we've been so successful."

Philips Shavers have always been a driver for category growth. In 2006, the Philips Shavers business in Europe and Asia increased between 4% and 11% in value, while in North America Philips Shavers grew its business by more than 10%. The current market value for male electric shaving is approximately Euro 2.5 billion sales with a market volume for the global male electric shaving of approximately 40 million units.

A major reason for this growth is that an innovative product stimulates market development. Though the market is highly competitive, Philips Shavers global market shares increased by more than 2%* since introduction of these latest innovations.  In 2005, Philips Shavers introduced two new High End Shaver ranges - SmartTouch-XL and Speed-XL.

In 2006 Philips Shavers designed a shaving range with the AT&T Williams formula one engineering and design team and was sold in more than 20 key markets around the world.

Looking into the future

In order to consistently attract new customers, Philips creates shavers that are that break away from our competitors in terms of performance and design. According to Nico Engelsman, "By presenting the market with something innovative, you'll be able to attract new consumers. We are looking to translate global trends into products in the very near future". 

-Ends-

Notes to Editors
Philips Shavers is part of Royal Philips Electronics Group.

*(in value in absolute terms) 

About Royal Philips Electronics
Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is a global leader in healthcare, lifestyle and technology, delivering products, services and solutions through the brand promise of "sense and simplicity". Headquartered in the Netherlands, Philips employs approximately 125,500 employees in more than 60 countries worldwide. With sales of EUR 30.4 billion in 2005, the company is a market leader in medical diagnostic imaging and patient monitoring systems, energy efficient lighting solutions, personal care and home appliances, as well as consumer electronics. News from Philips is located at www.philips.com/newscenter.

For further information, please contact:
Philips 
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Georgina Boyd,
Philips Global Public Relations
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© Press Release 2007