GE recently announced that it has integrated its traditional lighting business more closely with its new Current lighting and energy division, while also seeking potential buyers for both segments. This move signals a strategic shift as the company continues to streamline its operations.
In late January, GE released its fourth-quarter 2017 earnings report, revealing an overall revenue decline of 5% for the quarter. Specifically, the lighting business saw a drop of 7%, with revenue falling from $584 million in Q4 2016 to $546 million in Q4 2017. The financial report also included a note stating that the company is now treating the Current and other lighting businesses as a separate division, known as the Lighting Business Unit.
Previously, the lighting business was part of the Energy Connection and Lighting division. However, after announcing the planned sale of its lighting business in the third quarter of 2017, GE separated the energy interconnection business, which was then merged into GE Power. As a result, GE Lighting and Current are now reported as a standalone unit, suggesting that the lighting business will be managed under the Current brand moving forward.
Founded in 2015, Current is an innovative energy company that combines LED, solar, energy storage, and electric vehicle technologies. It offers LED solutions to commercial and industrial customers and aims to provide cost-effective, efficient energy solutions through its Predix platform. This approach aligns with former CEO Jeff Immelt’s vision of the Industrial Internet of Things (IoT), which focused on collecting data from various assets, including light bulbs. Immelt stepped down last summer.
Current currently partners with major businesses like Walmart and has been involved in smart city initiatives. Although it once withdrew from some smart city projects, it later partnered with companies like AT&T to develop smart streetlights and IoT-enabled infrastructure. The company has since shifted focus toward intelligent lighting and energy efficiency rather than indoor positioning services.
Despite exiting the broader lighting market, GE is still active in the smart home sector. Its “C by GE†smart bulb line supports voice assistants like Amazon Alexa and Google Assistant, showing that the company is not entirely leaving the consumer space.
In its first annual report since John Flannery became CEO, GE confirmed that both the Lighting and Current divisions are up for sale. The company also listed several projects that could impact its financial results, including the sale of transportation, industrial solutions, and existing lighting operations.
According to foreign media, potential buyers may include Chinese and European lighting manufacturers. This development marks a significant step in GE’s ongoing transformation as it refocuses on its core energy and industrial businesses.
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