Philips announced spin off its LED lighting business

Philips (Royal Philips NV) today announced that it will spin off its LED lighting business Philips Lighting conduct IPO (initial public offering), so that in the future their own efforts to become a medical technology suppliers. Philips said in a statement said that the IPO will be placed on the pan-European stock exchanges of Amsterdam (Euronext), including Philips will sell its Philips Lighting at least 25% of the shares. After the IPO, Philips intends to complete the sale of the remaining shares in all lighting Feipu held in the next few years. However, the IPO issue price and a time not yet announced.

Philips had long been looking for a suitable buyer for the lighting business, but has failed to do so. This time announced its IPO, after marking the end of its efforts to find a buyer, but also means it will be out of Philips lighting business. In the lighting market, Philips is still a world leader. Philips CEO Frans van Houten (Frans van Houten) claimed that this decision to the Dutch company is historic.

Philips was founded in 1891, initially producing carbon filament light bulbs in the Netherlands, the southern city of Eindhoven a factory, becoming the world's production of light bulbs leader, then later involved in consumer electronics and medical electronics markets, products manufactured from X-ray equipment to the Electric Shaver have to wait knife and TV.

"We believe that after the listing of Philips Lighting as an entity, as a global market leader in the connection will strengthen the field of LED lighting solutions," van Houten said, "At the same time, Philips will focus on the exciting and is fast-growing medical technology market. "