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Philips to merge LED components, auto lighting into standalone business

30
Jun
2014

Dutch lighting and healthcare company Philips said on Monday it would merge its Lumileds LED components and automotive lighting divisions into a standalone subsidiary which could potentially be spun off. The company said its lighting division would remain a key customer for the new subsidiary but that it would look for third-party investors. The decision is the latest stage in Philips shift from an electronics company into a healthcare and lighting business. Lumileds is a manufacturer of high-powered LED lights, while the automotive lighting division sells light sources to carmakers and auto parts and repair stores.

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