Signify will continue to use the Philips brand for its products, under the existing licensing agreement with Royal Philips. The company expects the name change to be implemented in all the countries where it is active by the beginning of 2019.
With operations in more than 70 countries and 32,000 people worldwide, Signify generated sales of EUR 7 billion and invested EUR 354 million in Research and Development in 2017.
“We are driven by the principle that light is essential,” Eric Rondolat added. “And by connecting it to networks, software, sensors and IoT platforms, we open the door to a smarter world.”