GE recently announced that it has deepened the integration of its traditional lighting business with its new Current Lighting and Energy division, while also exploring potential buyers for these two segments. This move comes as part of a broader strategic shift within the company.
At the end of last month, GE released its fourth-quarter 2017 earnings report, which showed an overall revenue decline of 5% compared to the same period in 2016. Specifically, the lighting business saw a 7% drop, falling from $584 million to $546 million in the fourth quarter. The company also mentioned in its quarterly filing that it is now treating the Current and other lighting-related operations as a separate division, signaling a more focused approach.
Previously, the lighting business was part of the Energy Connection and Lighting segment. However, after announcing the planned sale of its lighting division in the third quarter of 2017, GE began separating the energy interconnection business, which was then merged into GE Power. As a result, GE Lighting and Current are now reported as distinct units. This restructuring suggests that the lighting business will be under the umbrella of Current, with future operations focusing on smart energy solutions.
Founded in 2015, Current is an innovative energy company that combines LED technology, solar power, energy storage, and electric vehicle charging. It provides commercial and industrial customers with integrated energy solutions through its Predix platform, aiming to offer cost-effective and efficient systems. This aligns with former CEO Jeff Immelt’s vision of the Industrial Internet of Things (IoT), which emphasized data-driven technologies across all products, from turbines to light bulbs. Immelt stepped down last summer, but the company continues to push forward with its IoT strategy.
Current currently partners with major businesses like Walmart, offering lighting and energy solutions. However, as the market shifts toward smart IoT-based lighting, the company's direction has become less clear. It previously pulled out of some smart city projects but later partnered with companies like AT&T to develop smart street lamps and support the growth of smart cities. While it no longer emphasizes indoor positioning, it is focusing more on energy-efficient, intelligent lighting solutions.
Despite exiting the broader lighting market, GE is not entirely stepping away. The company still develops smart home products, such as the “C by GE†line of smart bulbs, which are compatible with Amazon Alexa and Google Assistant. This shows that GE is maintaining a presence in the consumer space while shifting its focus toward more specialized and integrated energy services.
In the first financial report under new CEO John Flannery, GE confirmed that both the Lighting and Current divisions are up for sale. The fourth-quarter report further clarified this stance, listing several projects that could impact the company’s financial performance, including the sale of its transportation, industrial solutions, and existing lighting operations.
According to foreign media, potential buyers may include lighting manufacturers from China and Europe. With this strategic move, GE is looking to streamline its operations and focus on high-growth areas, while leaving the lighting business to others who can better capitalize on its potential.
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