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 was formed in the US with the name Philips Electronics North America Corp. In 1991-1992, Philips along with their subsidiary Magnavox, released the Philips CD-i, a combined CD player and home video game console. It sold one million units and was discontinued in 1998 after being heavily criticized amongst the gaming community. In 1997, the company officers decided to move the headquarters from Eindhoven to Amsterdam along with the corporate name change to Koninklijke Philips Electronics N.V., the latter of which was finalized on 16 March 1998. The move of the headquarters to Amsterdam was completed in 2001. Initially, the