May 28, 2020 10:38:00

General Electric, created by Edison who commercialized incandescent light bulbs, sells lighting equipment business

General Electric (GE) , a general electronics manufacturer founded by Thomas Edison , also known as the 'king of invention,' announced that it will sell its lighting business, including home bulbs, to smart home company Savant Systems .

GE to Sell Lighting Business to Savant Systems, Inc. | GE Newsroom
https://www.genewsroom.com/press-releases/ge-sell-lighting-business-savant-systems-inc

GE is saying goodbye to its 129-year-old light bulb business-CNN
https://edition.cnn.com/2020/05/27/business/ge-light-bulbs-sale/index.html

One of Edison's achievements is 'commercialization of incandescent light bulbs'. Edison has developed a light bulb that can be used continuously for 1000 hours by using a filament made from bamboo in Kyoto. In addition, we invented various electric products such as toasters and electric irons, and established a power transmission infrastructure for ordinary households to greatly contribute to the spread of electricity.

GE's lighting department, which has its roots in the laboratory established by Edison, has a history of 129 years and was a core business unit related to the company's identity. In addition, GE's lighting department commercialized fluorescent lamps in 1938, invented the halogen lamp in 1959, and invented the LED lighting in 1962, making a great achievement in the history of lighting for humankind. ..

by Wally Gobetz

However, GE has been in business deterioration in recent years, and has made major business reforms. As a result, we have decided to focus on four industrial sectors: aviation, healthcare, electric power, and renewable energy. On the other hand, it was decided in 2018 that the lighting business, whose business performance has declined due to a decrease in the frequency of bulb replacements due to technological development, will be sold to another company.

Savant Systems, which purchased the lighting business, was the first company to provide Apple's HomeKit- based smart home system, initially targeting only luxury homes, but in recent years it has also been appealing to general households. I am.

It is said that the transaction content also includes a “GE brand long-term license contract”, so it seems unlikely that the 129-year-old GE brand light bulb will disappear. The sale of the business is expected to be completed in the middle of 2020. “The lighting department at GE has no plans to fire 700 employees,” said Savant Systems.

GE Chairman and CEO H. Lawrence Culp Jr. said, 'This transaction is another important step in transforming GE into a more focused industrial company. Being part of a radical leader in home automation that shares a passion for illuminating the future, GE's lighting division, along with Savant Systems, inherits a legacy of innovation, with a core infrastructure following the roots of its founder Thomas Edison. We will continue to advance the technology. '