In the past few weeks, the LED industry has been active with several worldwide leading brands reporting their financial results of the second quarter and the first half of 2018 as well as big names announcing news of company reconstruction. LEDinside highlights the news for our readers to quickly follow up the industry updates.
General Electric has been planning to sell its lighting business after its announcement to restructure the company by the end of 2017. The century-old company reported that it has divested its global automotive lighting businesses and its lighting sales in Europe, Middle East and Africa at the earnings conference call on July 20. The value of those assets is estimated to be around US$600- 800 million. By cutting off lighting business, GE intends to focus on businesses of aviation, power and renewable energy.
(Image: Osram)
German LED giant Osram has also disclosed its divesture plan for its luminaires business. The company aims to reposition itself on high technology fields and to sharpen its portfolio with a more strategic focus for coping with “difficult market environment.” Besides the initiative to sell its luminaires business, Osram also reportedly organized measures to simplify its global administration and to reduce coast to fight against the effects of trade restrictions and ordering changes.
Signify announced the program of share repurchasing for buying back up to EUR 230 million (US$ 269.59 million) of its own shares to reduce the company’s capital. The Dutch company plans to repurchase 9.9 million shares, 7.2 percent of its current issued stock by the end of 2018.
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