August 3, 2018
General Electric (GE) CFO Jamie Miller advised in a recent Q2 earnings conference call that the company planned to sign a deal to sell the rest of its lighting business and Current, powered by GE by the end of the year. The value of these assets has been estimated at around US$600-800 million.
Industry talk suggests that Chinese lighting companies such as MLS Co. and Foshan Electrical and Lighting Co. are preparing to bid for the lighting business of GE.
GE has already closed its lighting sales in Europe, Middle East, Africa and Turkey, as well as its global automotive lighting businesses. GE is shifting its focus onto three core areas: healthcare, power and aviation. Last year the lighting division accounted for less than 2% of annual revenue.