NEC announced that it will remove the lighting business from its group and sell its lighting subsidiary, NEC Lighting, to a new company founded by Japan Mirai Capital on April 1st, 2019.
According to the announcement of NEC, the intense price competition in the LED lighting market has led to deficit of its lighting business in the recent ten years. Therefore, NEC decided to withdraw the lighting business which the company has been running for more than six decades.
(Image: pixabay)
NEC began to produce fluorescent light since 1952 and established NEC Lighting in January 2000. The annual revenue of the company in 2017 was JPY 17.2 billion (US$ 151.62 million).
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