GE wants to sell lighting business, which lighting company in China is willing to 'collect '?

by:ALLTOP      2020-03-12
At the end of last month, GE disclosed its financial report for the first quarter of fourth quarter of 2017. From the report, GE's overall revenue fell by 5 in the fourth quarter. Among them, the revenue of lighting business fell by 7, from 5. 5% in fourth quarter of 2016. $8. 4 billion fell to $5. $4. 6 billion. Foreign media reported that GE recently revealed that it has more closely combined its traditional lighting business with its Current new lighting and energy sector, at the same time, we are also looking for buyers for these two businesses. 1. Lighting performance declined in the fourth quarter 7. GE, which wants to sell its Current business and lighting business, disclosed its financial report for the third quarter of fourth quarter of 2017 at the end of last month. From the report, GE's overall revenue fell by 5 in the fourth quarter. Among them, the revenue of lighting business fell by 7, from 5. 5% in fourth quarter of 2016. $8. 4 billion fell to $5. $4. 6 billion. GE issued a footnote in its fourth quarter financial report, saying that the company is currently counting the Current revenue and other lighting business as a department, namely the lighting business department. It is reported that lighting previously belonged to the energy interconnection and lighting business department ( Energy Connection and Lighting) Since third quarter of 2017, GE has separated its energy interconnection business after planning to sell its lighting business. The energy interconnection business has begun to merge into GE's power generation business (GE Power). Due to this combination, GE Lighting and Current are reported as a separate part. The implication is that the lighting business will be dominated by GE's Current company, and the future GE Lighting business is only a part of the Current subsidiary. Founded in 2015, Current is an innovative energy company that combines LED, solar energy, energy storage and electric vehicle business. At that time, it merged the business of commercial and industrial customers in the LED business. With the development of the industry towards intelligent IoT lighting, the Current exact mission seems to have been shaken. The company once withdrew from the smart city project, and then cooperated with other manufacturers to form an ecosystem. For example, it cooperated with ATT to launch smart street lamps, providing Internet of Things equipment for smart city construction and testing the smart city market. It also seems to no longer emphasize indoor location services, but layout intelligent lighting, focusing on energy conservation. Although GE is withdrawing from the lighting market, this does not seem to be the case. In fact, GE Lighting company is still developing smart home products, such as C by GE smart light bulb series, and supports Amazon Alexa and Google Assistant voice control. However, in the fourth quarter report, GE dispelled any doubts about its intention to sell Current lighting and lighting. The company provides a long list of projects that may affect its actual financial results, such as selling transportation, industrial solutions and existing lighting businesses. 2. The lighting business is shrinking and the sale is irreversible. The author is not surprised at GE's sale of lighting business. Looking back at GE's recent events, you will find that all this has already been traced. In middle August 2016, GE Lighting announced the closure of two lighting plants in Lexington and Somerset in the United States at the end of August 2017. It is reported that the main business of these two factories is traditional lighting products. Less than a month later, GE spokesman Alicia Gauer. It was revealed that if the union agreed, GE Lighting's bulb factory in bridgetville would be officially closed in August 2017. This is the third lighting factory that GE announced to close this year. This traditional lighting factory was built in 1948. On August 31, 2016, GE Lighting CEO Bill Lacey said in an email to the company's employees that GE Lighting has terminated all direct commercial activities in Asia and Latin America since November 30, this enables GE lighting to achieve a high degree of focus, win and consolidate its market position in North America, Europe and the Middle East, and continuously expand its scale and improve its profitability. At that time, the news aroused the indignation of GE Lighting dealers. On September 28, 2016, GE Lighting dealers jointly issued the 'response of GE dealer representatives to GE's statement', which showed that through friendly negotiations between the two parties, GE finally promised to continue to execute the orders of the customers who have won the bid and signed contracts, GE is finally willing to solve the inventory problem and will propose a solution acceptable to the distributor. GE also guarantees to assume full responsibility for the post-contract obligations of GE product quality, and will make a smooth and peaceful transition in the future. On November 23, 2016, according to media reports, GE Lighting laid off a large number of employees in China, and some of the laid-off workers were dissatisfied because they failed to receive reasonable compensation. In response to this incident, GE Lighting subsequently issued a 'GE China statement' on its official website, saying that it had reached an agreement with most employees and signed a compensation plan agreement. In late February 2017, affected by the transformation of GE's business, Chen Xiangli, one of the Top R & D leaders and scientific pioneers in GE China, resigned in a low profile. On February 6, 2018, it was reported that GE revealed in its fourth quarter of 2017 financial report that it planned to sell Current and lighting. Foreign media said that potential buyers may include several major lighting factories from China, Europe and the United States.
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