Philips Lighting has been renamed Signify N.V. following the amendment of the company’s articles of association. “The choice of our new company name originates from the way light becomes an intelligent language, which connects and conveys meaning,” said Eric Rondolat, CEO of the new company.“It is a clear expression of our strategic vision and purpose to unlock the extraordinary potential of light for brighter lives and a better world.”
Signify will continue to use the Philips brand for its products, claiming it to be the most trusted lighting brand in the world, under the existing licensing agreement with Royal Philips. The company expects the name change to be implemented in all the countries where it is active by the beginning of 2019.
Founded as Philips in Eindhoven, the Netherlands, the company stated that it had led the lighting industry with innovations that serve professional and consumer markets for more than 127 years. In 2016, it span off from Philips, becoming a separate company, listed on Amsterdam’s Euronext Stock Exchange since March 2018. With operations in more than 70 countries and 32,000 people worldwide, Signify generated sales of EUR 7 billion and invested EUR 354 million in research and development in 2017.
“We are driven by the principle that light is essential,” commented Rondolat. “And by connecting it to networks, software, sensors and IoT platforms, we open the door to a smarter world.”