The firms joined forces to create the 'Active Crystal' line of earphones and USB memory keys made of silver metal and transparent crystal.
Rudy Provoost, chief executive at Philips Consumer Electronics, explained that the alliance enables Philips to enter the market of "luxurious and fashionable electronic accessories for women".
"These new products will change the way women interact with innovation and technology," he added.
The Heart Ware and Heart Beat USB memory keys are worn as heart shaped pendants connected by a silver cord.
The keys take the form of hearts with one half in polished silver metal and the other in asymmetric facetted crystal, or in metal decorated with crystals. Each heart opens to reveal the 1GB USB key.
Also packing 1GB of storage, the Lock In and Lock Out memory keys attach to a key-chain or a loop on a wallet. These keys resemble small locks studded with Swarovski crystals.
All four models require a username and password to protect any sensitive information.
The Active Crystal line also includes four pairs of crystal studded earphones. The Space, Icon, Mirage and Amazone range provides a number of listening options including in-ear, over-ear and integrated into a necklace.
The entire range of peripherals will be commercially available from August 2007.
Could be used for everything from search-and-rescue robots to wearable tech
Don't require the rare material being mined from the mountains of South America
IBM hopes that its new tool will avoid bias in artificial intelligence
Found by calculating the strength of the material deep inside the crust of neutron stars