Philips Plans to Spin-off OLED Lighting Business

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Dutch lighting conglomerate Philips has announced plans of spinning off its OLED business, according to a report by OLED-info.

The company is seeking for a buyer of its OLED business. After the spin-off Philips Lighting will be focused on smart LED systems and services.

Philips has been a leader in the OLED lighting industry for years, and sources at Philips believe the spin-off will be a positive development for the technology.

The company has projected on numerous occasions that OLED lighting will enter the mass market by late 2016 or early 2017. However, in the current stage the company’s OLED business needs more funds to expand production capacity, which is probably only achievable if a right buyer emerges.

 

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