[Update] Philips Lumileds and Automotive Lighting Business to Trade under New Brand Name in 2015

Philips Lumileds and Philips automotive lighting business will be rebranded under a new company name in 2015, said Sean Zhou, Regional Marketing Director, Asia, Philips Lumileds at LEDforum 2014, which took place on Friday in Taipei, Taiwan.

The two companies were spin-off from Philips Lighting during second half of 2014 to become an independent company. Company officials are still discussing the new company name, but Zhou expects the two former Philips subsidiaries will complete integration and bourse listing by April 1, 2015.

Sean Zhou, Regional Marketing Director, Asia, Philips Lumileds speaking at LEDforum 2014. (LEDinside)

“We have confirmed Philips will remain a stockholder of the new company,” said Zhou. Aside from Philips, the new company will be open to third party investors.

Responding to market rumors that Cree and Chinese LED manufacturers such as San’an Opto might become potential shareholders of the new company, Zhou said it was highly unlikely. However, Philips Lumileds separation from Philips will enables more growth on a larger scale, while increasing flexibility to attract additional investors to accelerate growth. 

The merge between Philips Lumileds and automotive lighting business is expected to generate annual revenue of US $2 billion. “A goal that is highly achievable based on the two companies combined revenue figures in 2013 of US $1.9 billion,” said Zhou. 

(Author: Judy LIn, Chief Editor, LEDinside)

(Editorial Note: This is a revised version of the article first published on Oct. 24, 2014.)

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