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Thread: GE Sells Lighting Division

  1. #1
    *Flashaholic* StarHalo's Avatar
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    Default GE Sells Lighting Division

    "General Electric is no longer in the light bulb business, the company announced on Wednesday.

    GE said that its 129-year-old lighting unit—which was formed in 1892 from the merger of Thomas Edison’s Edison General Electric Company with two other firms—will be sold off to smart home manufacturer Savant Systems in a deal with undisclosed terms. The lighting division has been on the market for a buyer since 2017 and, by 2018, had become the company’s smallest division, accounting for under two percent of GE’s $122 billion in revenue. Low prices for light bulbs, as well as a rapid switch to more efficient lighting technologies lasting far longer than traditional incandescent bulbs, turned the unit into a money-loser for GE."

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  2. #2
    *Flashaholic* Flying Turtle's Avatar
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    Default Re: GE Sells Lighting Division

    Guess this won't affect me much, but I do hope Savant Systems will continue to sell the nice little GE night lights I have a bunch of in the house.

    Geoff

  3. #3
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    Default Re: GE Sells Lighting Division

    Think of all those companies that invested millions to make compact fluorescent bulbs, only to see their investments wiped out when LED lights came to dominate the market.

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