Polaroid Signs Licensing Agreement for Polaroid® Home Electronics in Latin America
MINNEAPOLIS – June 8, 2010 – Polaroid today announced the signing of a five-year exclusive licensing agreement with AMW Latin America (AMW LA), a manufacturer and distributor of consumer electronics in 25 countries across Latin America. Under the terms of the agreement, AMW LA will develop a wide range of Polaroid-branded home electronics including standalone and portable TVs, home theater systems and DVD and Blu-ray players as well as home theater accessories. Polaroid products from AMW are initially expected to contribute an estimated $300 million in sales in the next four years.
“Latin America provides significant growth opportunity for the Polaroid brand, and we can’t wait to unveil our new home electronics from innovators AMW LA who are committed to infuse the same tried and true Polaroid values into their product mix,” said Scott W. Hardy, president of Polaroid. “AMW LA is a great partner with diverse capabilities in developing a wide range of home theater products with crystal clear images and lifelike sound quality at affordable price points.”
AMW LA delivers technology driven solutions focused on emerging product features. The agreement with AMW will expand the Polaroid product portfolio for home electronics in more than 25 countries in Latin America. “Our Polaroid-branded offering will focus on the latest in home theater features, like super-thin design with LED backlight, 3D video, Internet TV and surround sound,” said Tomas Gonzalez Anleo, president of AMW LA. “We are proud to continue the Polaroid legacy by providing customers in Latin America with the most innovative, high-end products that remain true to the Polaroid promise.”
This year, Polaroid has reinvented itself with the help of over 20 licensee partners around the world. Partners like AMW LA are bringing an expanded range of imaging and consumer electronics products available for purchase this year. Polaroid is proud that its new business model has resulted in the development of more than 100 new Polaroid-branded products since December 2009, including both classic instant and instant digital cameras and a wealth of consumer electronics from binoculars to DVD and Blu-ray players, portable DVD players, e-book readers, iPod docking stations, home theater systems and more.
Consumers can expect to see new Polaroid-branded home theater products from AMW LA at major retailers and in Latin America later this year.
About Polaroid
Across several generations, people regard Polaroid as one of the most trusted, well-respected and recognized brands when it comes to instant photography. The Polaroid brand has been around for more than 70 years starting with polarized sunglasses, evolving into instant film, cameras and camera accessories. In recent years, the brand has expanded into flat panel televisions, portable DVD players, digital photo frames, digital HD camcorders, waterproof digital cameras and more. People can expect to see new Polaroid products that will deliver the fun, instant gratification and value for which the brand has long stood. Polaroid and Polaroid & Pixel are trademark of PLR IP Holdings, LLC. For more information, visit www.Polaroid.com.
