Philips has decided to sell 80% of its holding in its lighting components business for $2.8 billion. The purchasing company, Go Scale Capital, is a technology fund that is looking to increase the company’s automotive and LED businesses. Go Scale Capital plans to expand the already existing business of selling more car lighting systems and LED lamps along with building on Philip’s customer base such as Volkswagen, BMW, and Audi. Philips recently began streamlining their business by selling off underperforming parts—this sale in particular is a preface to Philips’s next great strategic move of spinning off their main lighting division. The sale stands as a significant turning point for Philips, which has sold lighting products since 1891. The separation of lighting from their other ventures is very similar to their competitor Siemen AG’s move of spinning off their Osram Licht AG business. As the world’s largest lighting maker
, Philips looks to use stock market flotation to stray away from lighting and focus more towards medical technology and selected consumer products. This new business will be known as Lumileds and will have a worldwide market, employing over 8,300 people. Lumileds has already gone through a successful start as sales in 2014 reached over 2 Billion Euros. Koninklijke Philips N.V. (Royal Philips), or most commonly known as Philips, is an electronics company that focuses on healthcare, consumer lifestyle, and lighting. Founded in 1891, this Dutch company has become one of the largest electronics companies in the world. With over 120,000 employees, their influence spans across more than 60 countries. The company is currently organized into three main divisions, each specializing in a particular industry: Philips Consumer Lifestyle, Philips Healthcare, and Philips Lighting. Their extensive product line ranges from basic consumer products like electronics shavers, televisions, and lighting fixtures to professional products and services in specialized industries. Via our proprietary website Just NSN Parts
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