Philips CEO Frans van Houten has announced that the Dutch electronics group is "giving independence" to the Philips Lighting division, according to Lux Review.
This latest announcement is just another result of the 123-year-old company's recent restructuring strategy to keep healthcare and consumer products as its main focus.
Philips is considering "alternative ownership structures" and looking for new investors for Lumileds, its LED chip business, and its automotive lighting operations. With lighting solutions operating "under a separate legal structure," it will be able to deliver innovative solutions more quickly and efficiently to its market. The lighting division will keep the Philips name.
Philips will release more information in 2015. In the meantime, be sure to check out Philips Strand Lighting NEO Lighting Control Console Training on November 18 and 19 at the LDInstitute during the LDI show in Las Vegas.
For the full article, visit Lux Review.