Philips Natuurkundig Laboratorium Diepeveen built an error-correcting coder-decoder that was delivered in the summer of 1978. The decoder was included in the CD prototype player that was presented to the international press. To commemorate this breakthrough, Philips received an IEEE Milestone Award on March 6, 2009. This breakthrough was also appreciated by Sony and they started a cooperation with Philips that resulted in June 1980 in a common CD system standard. Philips as a whole took a turn for the worse and by the end of the 1980s bankruptcy seemed a very real possibility. Under research director Kees Bulthuis the position of long-term
Philips Classics Records Parent Universal Music merged the label into Decca Records. The name Philips Classics still exists but appears on no new recordings, and the Philips Classics Internet presence is within Decca's website. Philips Classics Records Philips Classics Records was started in the 1980s as the new classics record label for Philips Records. It was successful with artists including Alfred Brendel, Sir John Eliot Gardiner, Sir Neville Marriner and the Academy of St. Martin in the Fields, Mitsuko Uchida, Julian Lloyd Webber, Sir Colin Davis and André Rieu. A notable product released under the label is the 180-CD "The Complete Mozart Edition",