Brand name stays for products.
The world leader in lighting is changing its name, from Philips Lighting to Signify, however the company will continue to use the Philips brand for its products, under its existing licensing agreement with Royal Philips.
Commenting on the decision, Philips Lighting CEO, Eric Rondolat said the new company name is a clear expression of its strategic vision. “It is an 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.”
Philips Lighting has been at the forefront of many of the lighting industry’s major advancements. Today, it leads the industry worldwide in conventional, LED and connected lighting, with the largest connected lights network in the world.
The new company name satisfies the company’s contractual requirements under the Company Name License Agreement with Royal Philips, which requires that it changes less than 18 months after Royal Philips no longer has a controlling interest.