In 2018 Philips has conducted its long-expected re-branding of the general lighting department. Following peers like Osram which had undertaken similar operations in the past, this move is expected to be only the first step of a much likely sale of the general lighting business at a later stage. 

 

As Philips announced on its website, Signify will continue to use the well-known Philips brand for its products under the existing licensing agreement with Royal Philips. As the company pointed out, a complete name change is expected to be implemented in all countries where it is active by the beginning of the year 2019. Considering Philip’s history of 127 years in the lighting industry, the new arrangement can be described as truly historic.

 

 

With operations in more than 70 countries and 32,000 people worldwide, Signify generated sales of EUR 7 billion and invested EUR 354 million in Research and Development in 2017. Furthermore Signify is listed on the Amsterdam’s Euronext Stock Exchange.

 

As the company finally stated it believes in the concept that light is essential and that “by connecting it to networks, software, sensors and IoT-platforms, we open the door to a smarter world.” Sm.