Philips Announces New Prices of Velo 1, Reduced by $100; Price Reduction Keeps the Velo 1 Competitive in Retail Market
SUNNYVALE, Calif. — August 1, 1997 — The Philips Mobile Computing Group, a division of Philips Electronics North American Corporation, announced today that it will reduce the price of the 4 megabyte Velo(TM) 1, the award-winning handheld PC (H/PC) based on the Microsoft(R) Windows(R) CE platform. Philips will reduce the original prices by $100; the price reductions will take effect today in retail outlets throughout the U.S.
The Velo 1 will have an estimated street price of $599.99 for the 4MB unit and $639.99 for the 4MB unit with a rechargeable NiMH battery pack. Both bundles come complete with the Velo Dock, AC adapter and built-in software modem. These price reductions come at a competitive time in the H/PC marketplace. Philips believes that competitive pricing, along with outstanding features, will maintain the Velo's premier position in the market.
"We know that the Velo 1 is considered the best in its class by many people in the computer industry," said Alan Soucy, general manager of the Philips Mobile Computing Group. "We have now reached mass market production, which enables us to offer the Velo 1 at a more attractive price. This allows us to maintain our strong leadership position in the handheld PC category."
The lower priced Velo 1 offers the same exceptional features as before, including the built-in, low-power 19.2 Kbps modem, superior performance, Velo Voice Memo and two Miniature Card slots for memory expansion and system software upgrades. The most recent enhancement offered for the Velo is a performance upgrade, announced last month. The software upgrade will accelerate the already best-in-class performance by at least 15 percent by allowing the CPU faster access to the system ROMs. The enhancement is available free of charge upon product registration via the Internet.
"Creating a competitive pricing strategy for the Velo 1 makes the H/PC purchasing decision an easy one," said Robert Brown, director of product marketing for the Philips Mobile Computing Group. "With all the necessary communications tools built in, the fastest processor in any handheld PC, and now the most competitive prices, no other product will satisfy the on-the-go professionals requirements with such a compelling price-performance offering."
The Velo 1
The Velo 1 handheld PC provides users with a lightweight, portable and familiar solution for mobile computing, communications and information management. It offers the best performance, most highly integrated communications, and superior expandability of all the handheld PCs based on Windows CE. The Velo 1 has an estimated street price of $599.99 for the 4MB version and $639.99 for the 4MB with NiMH Rechargeable Battery Pack. The 8MB version, with NiMH Rechargeable Battery Pack, has an estimated street price of $839.99. In the U.S., this 8MB version can be purchased exclusively from the Velo Store on the Philips Velo 1 website (www.velo1.com). All Velo bundles come complete with a Velo Dock, AC adapter, and built-in, low power software modem.
The Philips Velo 1 has been accepted as the premier handheld PC. In head-to-head reviews with competitors, the Velo 1 stands out with the most integrated communications, superior expandability, and fastest performance. PC Magazine has declared the Velo the "Editor's Choice" for handheld PCs; CNET considers it the "recommended," "must buy" product; the Velo has won the Innovations award at the 1997 Winter Consumer Electronics Show, BYTE Magazine's Best of Show award at Fall Comdex 1996, and is a 1997 Industrial Design Society Award winner.
The Company
The Philips Mobile Computing Group is the developer and distributor of the award-winning Philips Velo 1 handheld PC. With headquarters in Sunnyvale, California, the Mobile Computing Group is one of the first new initiatives in digital convergence from Philips Electronics (NYSE: PHG). Philips Electronics is one of the world's largest consumer electronics companies with annual sales of $40 billion. Its products include: consumer electronics; lighting; components; semiconductors; communication systems; multimedia systems and software; domestic appliances; professional solutions; medical systems and personal care products. Philips Mobile Computing Group can be found on the World Wide Web at http://www.velo1.com.
NOTE: Velo is either a registered trademark or trademark of Philips Electronics in the United States and/or other countries. Microsoft and Windows are either registered trademarks or trademarks of Microsoft Corp. in the United States and/or other countries. All other trade names are either registered trademarks or trademarks of their respective holders.
SOURCE: Philips Mobile Computing Group
CONTACT:
Lisa Schiltz of Philips Electronics, 408-523-2874, or [email protected];
or
Becky Ross of Brodeur Porter Novelli, 408-324-4848, or [email protected], for Philips Electronics