GE Lighting, a Savant company. Plenty of good, bad and ugly to go around and my job, as it has been for most of my career as a business journalist, is to try to sort it all out. Future, meet the past. More ways to grow more
Indoor nature deserves light that appears natural to the eye. But as the company first diversified into finance and entertainment and then more recently has retrenched at a rapid and unprecedented rate, household goods became a less important part of the overall corporation.But it can be argued that connecting with Americans in their homes and producing products that the average person can buy and relate to has its benefits even if the business and margins are smaller than from other areas. The company eventually decided on a stock market listing instead. Businesses . Comfortable Soft White Light For over 125 years, GE has been investing and growing its presence across Europe. GE sold its commercial lighting business in 2019, and GE Appliances was sold to the Chinese firm Haier in 2016 for more than $5 billion. General Electric said Wednesday it has a deal in place to sell its consumer lighting business to Savant Systems, part of a broader restructuring of the … GE is organized around a global exchange of knowledge, the "GE Store," through which each business shares and accesses the same technology, markets, structure and intellect. Its lightbulbs and fixtures are among the few remaining GE consumer …
GE used to say it brought good things to life, but more recently it has basically done the opposite.The business of retailing is my specialty...and boy is it special. The lighting business, including the commercial portion, had about $2.2 billion in revenue last year, or less than 2% of GE’s total. Consumer Lighting (U.S.) LLC. There’s no guarantee there will be a deal.The business GE is considering selling consists of residential LED lighting and connected-home technology in North America. Two weeks ago, GE said it would double its planned annual cost cuts in its industrial operations to $2 billion over two years after discussions with Trian, which took a $2.5 billion stake in the company in 2015.Other industrial companies have sought to exit lighting businesses in recent years amid stiff competition.Royal Philips NV signed a $2.8 billion deal to sell most of its lighting components and automotive-lighting unit to a Chinese investor, but last year U.S. regulators blocked the deal. Last year, Germany’s Osram Light AG agreed to sell its lightbulb and LED-lamp business to China’s MLS Co. and two co-investors for around $440 million.Write to Dana Mattioli at dana.mattioli@wsj.com and Thomas Gryta at thomas.gryta@wsj.com
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