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Philips is still looking for a buyer for its OLED lighting division

Philips is still looking for a buyer for its OLED lighting division

By BizLED Bureau

February 17, 2015: Putting a stop to all speculations, Philips has once again confirmed its plan to sell Lumiblade OLED business, which it terms as a part of its ongoing company restructuring.

Philips is already in talks with a number of potential buyers. This was confirmed by Dietmar Thomas, manager for brand and integrated communications for OLED at Philips, when he spoke to +Plastic Electronics.

Dietmar Thomas said that Lumiblade based in Aachen is continuing its business as usual. It is also rolling out its new products like Brite FL300 white OLED lighting panel, while it is waiting for an appropriate buyer.

Philips, a leader in the OLED lighting industry for years, believe that the spin off will have a positive impact for the company and for the development of OLED the technology.

Earlier, in January 2015, the Dutch lighting manufacturer said that it will spin off its OLED lighting business, and was looking for a buyer for its OLED business.

Followed by this spin off, Philips will focus mainly on smart LED systems and services.

Although Philips believe that OLED lighting will enter the mass market by 2016 or 2017. The company believed that OLEDs will large scale application in cars by 2016. The company had said that OLED will replace strings of LED lights that mimick surfaces of light, but OLEDs are a light surface in reality. In addition, OLEDs offer more design freedom for car makers. Yet, Philips has taken the decision to spin off its OLED unit because currently, its OLED business needs huge funds to expand production capacity, which will be possible only when the company gets a right buyer.


None of the facts and figures mentioned in the story have been created by BizLED.co.in. BizLED is not responsible for any factual errors.
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