GE Restructuring To Better Compete in Lighting Industry
GE Consumer & Industrial is restructuring its lighting business to become more competitive and improve its position in the growing lighting industry market. The restructuring will impact plants in Mexico, Brazil and the USA. GE will also focus on investing in new lighting technologies and research that will help maintain its technology leadership.
“We are increasing our focus on the development and production of new, innovative lighting products like LEDs, organic LEDs, our new high efficiency incandescent light bulbs and other products that our customers will increasingly demand and require,” Jim Campbell, president & CEO of GE Consumer & Industrial. “In the last four years alone we have invested more than $200 million on energy-efficient lighting.”
Campbell went on to say that the global market for common household lighting products like the incandescent bulb, has dramatically declined in demand in the past five years. This decline is believed to continue due to new efficiency standards and technology advancements, being lead primarily in the LED space.
