Philips Follows Siemens in Move to Spin Off Lighting Solutions as Stand-Alone Business Photo courtesy of Philips Lighting

Philips Follows Siemens in Move to Spin Off Lighting Solutions as Stand-Alone Business

Philips’ Lighting Solutions business, already one of the global leaders in lighting and serving a growing market estimated to exceed €60 billion (approximately $77.1 billion), will be better positioned to capitalize on the fundamental changes taking place in the lighting industry, in which the value is shifting from individual products to systems and services, Philips said.

Royal Philips, Eindhoven, Netherlands, announced last week at a London meeting with investors and analysts that it would separate its HealthTech and Lighting Solutions businesses into two separate companies and concentrate Royal Philips itself on consumer healthcare products and services.

The Philips Lighting Solutions business has annual sales of  €7 billion (approximately $9 billion) excluding the company’s Lumileds (LED components) and Automotive lighting businesses

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TAGS: Green Lighting
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