Philips says the DVDR1000, based on DVD+RW technology, will herald the most significant advancement in consumer recording in almost 20 years, when it hits Australian shelves in October.
The electronics giant says the release of the DVDR1000 signals the beginning of the end of the VCR format and the trusty VCR in loungerooms across the country.
"DVD was launched in Australia in 1997, and since then almost 500,000 DVD players have been purchased, which is a phenomenal penetration rate for such new technology," said Johnathan Wight, Marketing Manager, Philips Consumer Electronics Australia.
Philips expects this take-up rate to increase dramatically in the next two years.
"For example, sales of DVD players will account for 40 percent of playback systems (both VCR and DVD) this year, which means far fewer VCR machines will be sold," Wight said in a statement.
"Within two years we predict that the VCR will no longer be the main visual format, and within 3 to 4 years DVD-Recordable will account for half of DVD-Video sales," he said.