GE disclosure lighting business restructuring plan

In energy-saving lighting (including LED and OLED) further investment will be part of the GE lighting business adjustment plan.

GE Consumer & Industrial plans to restructure its lighting business in order to become more competitive in the rapidly changing global lighting industry to occupy more advantages. The restructuring plan is an expansion of structural changes that took place last year and will affect Mexico, Brazil and the United states. The plan includes equipment closures, industry changes, layoffs, the sale of GE in Europe, China, Indonesia, the United States, Latin America and India business department, involving more than 3 thousand jobs. Its purpose is to help the lighting business department to respond more effectively to customers and industry demand especially to more energy-saving products in the trend of customer demand and production - increasing high-tech lighting products in the global market. In addition, the lighting business will also focus on new products, new lighting technology research and development, which will help GE's oldest business unit to maintain market share and technical leadership.

GE Consumer & Industrial president and CEOJim CampbELl said, "we are developing new products such as LED, OLED, new efficient incandescent bulbs are increasing concern. In the past four years alone, we have invested $more than 200 million in energy-efficient lighting. In terms of the impact on employees, Campbell said reconstruction is very difficult, but it is one of the most important thing in the history of GE100 lighting business for many years. In the past five years, the global market demand for the most incandescent bulbs fell sharply, due to the new standards and technical progress, the trend is accelerating.

Source: China Semiconductor Lighting Network