GE Can't Get Rid of Its Light Bulb Business - Energy Watch News


GE Can’t Get Rid of Its Light Bulb Business

It’s been nearly a year since cash-strapped GE revealed plans to sell the struggling light bulb business and focus instead on moneymakers like jet engines and MRI machines. But GE has yet to find a taker for the iconic unit. The company is in “active discussions” with potential suitors for the lighting division. The struggle to sell the light bulb unit underscores the dim outlook for the lighting industry that GE. GE’s lighting sales plunged by 59% last year to just under $2 billion. Although lighting long defined GE, today it’s the company’s tiniest division, accounting for less than 2% of its $122 billion in annual revenue. GE has decided to shift focus onto three core areas: healthcare, power and aviation. The lighting slump isn’t special to GE. It’s an industrywide problem driven by low prices and the popularity of LED lights that last for decades, limiting the need to replace them. http://www.hartfordbusiness.com/

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