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After changing the name of Signify, what is the way for PHILPS lighting to go?

Mar 22, 2018

In March 16th, PHILPS lighting issued an important announcement, announcing the plan to change the company name (PHILPS lighting) to Signify, which is also an important step in the transformation of PHILPS's lighting.

Transformation, change, for PHILPS lighting is not strange. Looking back at the history of PHILPS lighting, in every big change of lighting industry, PHILPS has not only been absent, but also has become the leader of industrial change with its own innovative technology. Entering the twenty-first Century, the focus of PHILPS lighting is changing from traditional lighting product manufacturing to interconnected lighting system and service development in the era of Internet of things.

As we all know, in May 27, 2016, after the completion of the 2 year separation process, PHILPS lighting was listed independently on the European stock exchange in Amsterdam. Later, PHILPS lighting called out the company's promise of "light, beyond sight". Since then, the development of PHILPS lighting has entered a new situation.

PHILPS lighting believes that the meaning of lighting has long exceeded the light itself. So PHILPS lighting is no longer the source of light, lamps and other products, but includes a comprehensive solution of the system and service. In order to implement the strategic transformation, PHILPS lighting not only focus on Application of intelligent interconnection in the Internet of things, to the innovation of thinking beyond the traditional product category: in the process of innovation in the concept of sustainable development, the ecological design (EcoDesign) "principle; in the lead under the mode of circular economy to explore and practice the" lighting as a service (Light as A Service) "business model and so on; with more partners in various fields to carry out cross industry cooperation, continue to promote the innovation of intelligent lighting system and Internet services.

In the process of transforming the intelligent interconnected lighting, the achievements made by PHILPS lighting are obvious to all. Its intelligent interconnected LED lighting products, systems and services cover home, office, business, city and other fields. The release in 2018 of Frankfurt lighting exhibition during the Interact networking platform, based on data service Interact intelligent lighting system, Internet subversion of the visible light communication (LiFi) to further strengthen the leading position of lamps lighting the era of things, also accelerate the lighting industry to the development of the era of things. It has to be said that PHILPS lighting has played a leading role in the development of energy saving LED lighting. Intelligent interconnected lighting has provided customers with convenient operation and passed beyond the value seen. It is understood that PHILPS lighting has deployed 29 million intelligent interconnected lighting points in the world, and plans to have networking functions for all newly produced LED products by 2020.

In addition, in 2016 and 2017, PHILPS launched lighting lighting products to adapt to China lighting consumption habits by publishing Chinese brands, and Baidu, HUAWEI and other leading enterprises Ding Dong, a "friend of the show" (Friends of Hue) to lead the development of cooperation between the smart and intelligent lighting Home Furnishing Home Furnishing.

At the same time, PHILPS lighting announced its first sustainable development plan in September 2016 -- the bright life and the beautiful world. The total amount of carbon emissions in PHILPS lighting decreased by 20% in 2017 to 325 thousand tons of carbon dioxide; meanwhile, the use of renewable energy has increased from 67% to 80%.

With the release of the new brand concept, PHILPS lighting also found the brand new opportunity. The new company's name "Signify" derives from a new definition of lighting: light has become an intelligent language to connect and transmit information. According to the media, the new name is better suited to the idea of "light, beyond sight".

As the world's leading lighting brand, every move of PHILPS lighting has attracted much attention. The industry is more concerned about the strategic intentions of PHILPS lighting renamed Signify, as well as the strategy and development direction after its renaming.

In response to the change, PHILPS LIGHTING Global CEO Hong Anli (Eric Rondolat) said, "the new company name not only clearly expresses our strategic vision, but also the best time to launch a brand new exclusive corporate identity and better unite the 32000 employees in the world. At the same time, the company's products will continue to use PHILPS as the world's most trusted lighting brand.

It is worth noting that this will start at the Royal PHILPS is no longer the controlling shareholder of the company, and the relevant resolutions of the plan in May 15, 2018 at the PHILPS lighting holding annual shareholder meeting to vote on the adoption of the resolution and update the relevant contents of the articles of association of the company. In addition, the stock trading code of PHILPS lighting will also follow the "LIGHT".

All along, PHILPS lighting in the world has always been committed to innovation to greet the era of things and the mode of circular economy, promote the development of smart city lighting and intelligent interconnection. However, renamed PHILPS lighting still will help the development of smart city, to become the leading lighting enterprise networking era. The future, with the popularity of the world lighting demand increase and the mode of circular economy, efficient and professional service to provide customers with lighting lighting PHILPS will also order to achieve a better balance between customer and environment resources, will further help the company to achieve "brilliant life, a better world" vision, in 2020 to achieve carbon neutral operation, use of renewable energy to 100% at the same time, to achieve 80% sales from sustainable products, systems and services.

According to the performance report released in 2017, PHILPS lighting expects that the profit margin before tax adjustment, depreciation and amortization will achieve 10%-10.5% growth in 2018, which is in line with the company's medium-term outlook. The company will continue to reduce costs and expect to be able to save cost more and profit from it in the second half of 2018. At the same time, with the steady start of the first quarter, it is expected to achieve year-on-year sales growth throughout the year. In addition, because of the higher restructuring costs, the free cash flow in 2018 will be slightly lower than the level of 2017, but the company will provide a solid free cash flow.

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