AOL Time Warner and Royal Philips Electronics Announce Global Strategic Alliance.Business Editors NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and AMSTERDAM--(BUSINESS WIRE)--July 12, 2001 Companies to Collaborate on Development of New E-Commerce Platforms, Incorporating AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. Time Warner Content and Services AOL Time Warner (NYSE NYSE See: New York Stock Exchange : AOL) and Royal Philips Electronics of the Netherlands (AEX AEX See: Amsterdam Exchange : PHI phi n. Symbol  The 21st letter of the Greek alphabet.PHI, n See health information, protected. , NYSE: PHG), today announced a strategic alliance that will combine AOL Time Warner's strengths in interactive marketing and media and Philips' strengths in consumer electronics and technology. This global partnership will bring AOL Time Warner and Philips to new consumers around the world. Under the multi-year agreement, the two companies will focus their collaboration on a series of online, on-air and print marketing initiatives to help increase both the reach and scope of their brands worldwide. Interactive Marketing & Integrated Media and Advertising AOL Time Warner and Philips Consumer Electronics Philips Consumer Electronics is a part of Koninklijke Philips Electronics N.V. (usually known as Philips); and is one of the largest electronics companies in the world. In 2005, its sales were € 30.4 billion (US$38. and Domestic Appliances domestic appliance domestic n → appareil ménager & Personal Care divisions will co-develop new online marketing destinations that will showcase products and services from Philips, and include certain related content from AOL Time Warner online properties. These platforms, which will include functionality like decision guides to improve consumers' shopping experiences, will be designed to highlight both companies' retail partners and enable consumers to easily purchase Philips products. These new areas will be available within the popular Shop@ destinations across several America Online See AOL. brands. They will also be promoted across AOL Time Warner's various online media properties, both in the U.S. and around the world. In addition, Philips will be promoted across several of AOL Time Warner's wide range of print and broadcast properties. These include Turner Broadcast networks such as CNN CNN or Cable News Network Subsidiary company of Turner Broadcasting Systems. It was created by Ted Turner in 1980 to present 24-hour live news broadcasts, using satellites to transmit reports from news bureaus around the world. and Time Inc. magazines such as TIME and FORTUNE. Philips will also make available its distribution strength and global reach to help AOL acquire new members. Exploration of Next-Generation Technologies Furthering their previous relationship, Philips and AOL Time Warner have also agreed to pursue a strategic supply agreement. The two companies will also continue to work together and explore several initiatives to determine the next generation of set-top boxes and potential opportunities for online interactive services integrated with television. Bob Pittman, Co-COO of AOL Time Warner said, "This relationship truly highlights the value that only AOL Time Warner can deliver to its strategic partners. By expanding our relationship with Philips to include a number of the marketing and commerce assets that we now have in our portfolio, we're able to accomplish a number of important goals. First, we will offer consumers more innovative products from Philips to choose from to help make their lives easier and more convenient. Second, we will help Philips drive growth of its business through increased brand awareness. And finally, we will introduce more consumers around the world to our online features and services." Gerard Kleisterlee Gerard Kleisterlee is the current President and Chief Executive Officer of Philips and Chairman of the Board of Management and the Group Management Committee. He was born in Germany in 1946 to a Dutch & German couple and was raised in the Netherlands. , Chief Executive Officer of Royal Philips Electronics said, "This alliance fits perfectly with our ambition to build a high growth technology company and is powerful for both Philips and AOL Time Warner. By partnering to further develop several of Philips' key technologies, and marketing them with and through AOL Time Warner's brands, we can accelerate and broaden the pipeline of new products and services to consumers to help make their lives easier and more convenient. The alliance will extend Philips' reach and brand awareness in the U.S., and AOL Time Warner will have greater access in Philips' backyard - Europe. It is a win-win for both companies, truly exciting and it will help to position Philips as an even stronger player in tomorrow's digitally connected world of the Internet." About AOL Time Warner AOL Time Warner (NYSE: AOL) is the world's first Internet-powered media and communications company Communications Company is a communications unit of the United States Marine Corps. They are part of Combat Logistics Regiment 37 , 3rd Marine Logistics Group (3MLG) and III Marine Expeditionary Force (III MEF). The unit is based out of the Marine Corps Base Camp Smedley D. , whose industry-leading businesses include interactive services, cable systems, publishing, music, networks and filmed entertainment. About Royal Philips Electronics Royal Philips Electronics of the Netherlands is one of the world's biggest electronics companies and Europe's largest, with sales of $34.9 billion (EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 37.9 billion) in 2000. It is a global leader in color television sets, lighting, electric shavers, color picture tubes for televisions and monitors, and one-chip TV products. Its 219,400 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.news.philips.com |
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