This is a news info which heralds the end of an Era: Today it was announced that Philips Lighting has the intention to change its corporate name to "Signify" in accordance with their "Company Name License Agreement with Royal Philips, which requires that it changes less than 18 months after Royal Philips no longer has a controlling interest". The lighting division was gradually spun off from Royal Philips since May 2016 and Philips no longer has majority stakes in this business since April 2017, hence the change in name.

In their own words, the new name refers to "the fact that light becomes an intelligent language, which connects and conveys meaning." It looks like the marketing department has taken over the company, which could explain why they recently announced the layoff of one third of their R&D staff in Eindhoven...  

This change will be submitted to a vote at the company's next Annual General Meeting of Shareholders to be held on May 15. The renamed entity will continue to market its products under the Philips brand, which is licensed from Royal Philips.

Here is the press release: http://www.newsroom.lighting.philips.com/news/2018/20180316-philips-lighting-will-become-Signify

Max

It seems a bizarre decision.  They are changing the registered company name but their products will continue to be sold under Philips brand.  Perhaps in some years they will try to migrate away from that to stop the need to pay royalties to Philips for the use of its brand.

It's not really bizarre given that Royal Philips did set all the terms and conditions when they floated their lighting division on the market two years ago, and these were designed mainly to Royal Philips' advantages. This included the need to license the Philips brand name and to change the corporate name once Royal Philips no longer had a majority stake, so last Friday's announcement did not really come as a surprise, this was inevitable and something management at Philips Lighting Holding had to do.

Good grief, marketingspeak gone mad. Change the name of a company known the world over, for what..?

Good grief, marketingspeak gone mad. Change the name of a company known the world over, for what..?

A sure fire way to lose loyal customers for one thing IMO. 

that's the thing though, there are no loyal customers to a certain brand of lighting except to the very very very minute minority of lighting enthusiasts like us.  Which means $0  to lighting companies. 

Signify is a dumb name in my opinion.

Signify is a dumb name in my opinion.

You and me both

Signify is a dumb name in my opinion.

Signify what exactly.? If you are going to adopt a new name for your company make it stand out. 

Good grief, marketingspeak gone mad. Change the name of a company known the world over, for what..?

An LBO maybe? There have been some tech giants that have had that happen to them lately. One AvE has been ranting about lately has been Fluke (or Fruke in AvEian). Maybe loading up the lighting division with debt and sending it out to sea? Both Philips and GE doing this makes me nervous about Acuity...

A sure fire way to lose loyal customers for one thing IMO. 

If the customers note it at all. Presumably at the back of the packages something else than "www.philips.com" will show up in future. Anything else is fineprint no one reads anyway.

I can't help but find this move bizarre, too, unless they will eventually surrender the Philips brand after an off period. Would not be the first case of this kind.

Both Philips and GE doing this makes me nervous about Acuity...

Acuity exists just for lighting, these other companies didn't, so I think they'll be safe.