Philips lighting, world leader in smart lighting, this week announced their new name – Signify!
Philips commented in their press release the name was chosen because:
“Light becomes an intelligent language, which connects and conveys meaning”
They will however continue to use the brand name Philips on their smart home products, for example Philips Hue. Eric Rondolat, CEO of Philips Lighting said:
“We’re excited to announce our new company name as another step in our transformation journey. Our new company name is a clear expression of our strategic vision and a fabulous opportunity to introduce a new corporate look and feel that is uniquely our own and will serve to further unite our 32,000 employees. At the same time, we remain proud to continue to use the Philips brand on our products.”
Slightly confusing however it all leads back to the fact Philips lighting is a separate listed company to Philips, also listed but as Royal Philips. Philips lighting had an agreement with Royal Philips to change it’s name less than 18 months after Royal Philips did not have a controlling share. They stopped having this in November 2017.
One other clear point is this opens up Philips to release items that are not just lighting – excited to see what the future holds!