They invested almost $3 Billion to expand fixture business, it became the biggest of the biggest, and it's never mentioned, BIZARRE! Became even the biggest in the U.S. beating out Acuity and GE on their home turf, then they start dismantling it....then they sell off auto lamps and LED components? WHY? With autolamps div, means they deal with all the car makers, why sell it? How do you sell more LED and stuff to car makers, if you ain't doing it, WEIRD!
After 125 years in business, the last 10 have been a disgrace, who is advising PHILIPS, to self destruct? Every product line they had is gone, they where #1 in so many and lost it....it's really weird. Philips brothers Anton and Gerard are twisting in their graves, how can you get rid of the BASIC business that started Philips? Wall Street destroys another. Lighting is making money, it's the biggest in teh world, in the stuff, and poof! Same with tv's they where biggest in the world at one time, invented most of the stuff in tv's then just let it go....and the execs got massive pay checks to destroy it all. WOW. GE or Siemens will swallow what's left...I really thought it was gonna go the other way, Philips blew it...who turns off the lights, while its' still PHILIPS lights. ASML, NXP,Polygram,Taiwan Semi,Panasonic! all because it was created by PHILIPS, poof all gone. LG was 50 owned in Displays by Philips, then they give it all to LG? Why did GE and Siemens grow, doing all the same stuff Philips did? Philips and GE should have merged decades ago, it woulda been a major player
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It is not only Lightolier but the entire luminaire divisions. Except for reporting LED sales as a percentage of total sales they rarely talk about lighting. It is ashame what Philips management did to Day-Brite, Omega, mcphilben, Gardco etc. etc. Great brand names destroyed by an egotistical attitude that the Philips name was supremacy. I blame the CEO and top management for this debacle. Take a look at Lithonia (AYI). They are kicking butt. Philips management will eventually kill all businesses they own. To much ego, no common sense!!
With their management structure now based on Buy For Resale rather than innovate and delight, they became a follower and too late to correct. Very sad that Lightolier was destroyed.
i am curious what happens to the stock once the lighting is spun off...what is this health tech company going to be valued at? lower? higher?? I have not seen any comments on this as Philips seems to be "not on the radar" of wall st
philips used to do everything, now they barely do anything. Their research pioneered everything, do they even do any now? Selling off lighting is just nuts. They should be buying, like GE or Osram, lights. NXP is doing good, why did it not under Philips? Weird.
Same thing for Fisher Audio, and now even McIntosh is owned by it's 2nd owner, after D&M, is now a "lifestyle" brand, it's doomed. Marantz, will follow. Harman International has managed to keep all the brands they got at a higher level, AKG, Harman keeps it a premium brand that it is used to be a Philips company as was Marantz, soon to be toast probably under D&M. .
MSFT bought Nokia phone stuff, poof laying off how many? Nokia used to be the #1 cell phone dudes! All gone
that's what I meant...DUH LG Lucky gold star...not Life's Good, what stupid company names they should have used the Zenith name and dumped LG on their stuff
Lots of brands from their Genlyte purchase are going...Philips name on everything, they buy Genlyte for the distribution access, like when they bought Westinghouse lamps, they tagged em all Philips, Westinghouse is gone, same when ABB got Westinghouse products, it got ABB into this country for transformers and switch gear...ABB tags, nothing is called Westinghouse, did ABB do the same thing yup, buy and close, and get the distribution under your own name
nope, they kept Magnaovox going for decades, they sold off the brand along with Philco and Sylvania which they also owned, so they would tag all their stuff Philips. They got Philco and Sylvania from GTE back in the 80's...to get rid of the Philco issue about using PHILIPS name in the U.S. They where trying to market Philips tags as one entity...having all the different brands was chaos. They needed Magnavox to get into the U.S. market...Philips was at once time the world' biggest tv maker and crt maker before that biggest maker of radios....Do you think Pansonic didn't end Quasar from Motorola,when they moved into the U.S., or when Samsung bought Zenith, to get U.S. distribution, where is Zenith now? Same deals
Actually PHILIPS innovated much more in lighting than Lightolier could ever do, they make fixtures, Philips makes LIGHT, invented it all Car halogen, Low pressure sodium,superior LED,Xenon,for cars....without Philips Lightolier would have nothing to put in the fixtures. Philips didn't want product from Lightolier, they wanted distribution, just like when they took over Westinghouse Lamps decades ago
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