Signify Holding(Koninklijke Philips N.V )

Signify Holding(Koninklijke Philips N.V ) Overview

Company Headquarters: Netherlands

Founded: 1938

Workforce: ~29,000

Company Working: Koninklijke Philips N.V is one of the leading health technology company focused on improving people's health and enabling better outcomes across the health continuum from healthy living and prevention, diagnosis, and treatment, to home care. Signify Holding is a subsidiary of Philips which provides lighting control systems. It is the leading company in lighting for professional, consumer, and Internet of Things applications. It provides high-quality, energy-efficient lighting products, systems, and services to the customers. The company's product portfolio includes luminaires, lamps, light-emitting diode (LED) lamps, and LED tubes, and decorative lighting. Signify has partnered with more than 100 universities. The company has made intelligent lighting in which IoT platform enables connected lighting systems and embedded sensor networks. Signify has presence mainly in Europe, the Americas, as well as other international markets.

Strategy

Signify Holding strategizing its focus on developing new products that could meet the growing need of LED lightings. Over the next few years, the company aspires to leverage new opportunities to further increase the value it offers by increasing its growth in existing core business, improving revenue in adjacencies, and driving customer and operational excellence.

Company Snapshot

$7,986M

Revenue

29,000

Employees

1938

Founded

Netherlands

Headquarters

SWOT Analysis

Strengths

Strong brand image
Strong portfolio of intellectual property
Strong research and development
Strong product portfolio
World leaders in terms of brand name and recognition
Sustainable products form a large portion of its revenue

Weaknesses

High operating costs
Declining revenue
Need more investment in new technologies

Opportunities

Global urbanization
Increasing demand for cognitive analytics and solutions
Need more investment in new technologies

Threats

Intense competition
Global economic graph
Increasing number of innovations and intense competition

Key Developments

Date	Approach	Development
June 2019	Product Launch	Signify introduced Philips GreenPower LED toplighting compact which provides a 1-to-1 replacement for HPS lighting that fits seamlessly in existing HPS set-ups and trellis constructions.
June 2019	Product Launch	Signify introduced a new Philips GreenPower LED production module 3.0. This will help growers to optimize multilayer crop cultivation of lettuce and other leafy greens, herbs, soft fruits, and young plants.
April 2018	Contract	Philips Lighting installed its first LED grow light project for cucumber cultivation in Russia with Agrokultura Group, LLC and its new business partner Svetogor
April 2018	Product Launch	Philips Lighting launched new Philips GreenPower LED toplighting with an optimized light spectrum for cut rose cultivation at an event of the Philips Rose Expertise Group
February 2018	Partnership	Philips lighting partnered with ST Solution, a specialist in turnkey greenhouse solutions. In this partnership ST Solution provides a smart horticultural system and greenhouse construction for greenhouse projects.
February 2018	Product Launch	Philips Lighting launched a new GreenPower LED Interlighting Generation 3 (Gen 3). It is installed within the canopy. It offers a system efficacy of 2.7 to 3.0 μmol/J.
January 2017	Product Launch	Philips Lighting introduced a new GreenPower LED interlighting system which is designed to minimize maintenance.
November 2022	Product Expansion	Signify (Philips Lighting) has announced the addition of two new portable smart lamps to its smart Wi-Fi lighting portfolio in India: the Philips Smart LED Squire and Philips Smart LED Hero.
January 2022	Acquisition	Signify has finalized its acquisition of Telensa, a pioneer in the smart street-lighting business with a significant customer base among local governments and utility companies, particularly in the United Kingdom.
May 2020	Product Launch	NatureConnect, a lighting innovation inspired by nature, is introduced by Signify to make people feel happier and healthier. The system is based on well-established biophilic design principles, which employ natural components in interior spaces to produce healthful, engaging, and inspirational settings. The first NatureConnect deployment is now underway at one of Skanska's offices in Warsaw, Poland, a leading multinational project development and construction firm.

Product Offering

Signify Holding(Koninklijke Philips N.V )
- Horticulture Lighting Products
- Artificial Sky-Sun light solutions

Financial Performance

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