GE disclosed its fourth quarter 2017 earnings at the end of last month. From the report, GE's overall revenue in the fourth quarter fell by 5%. Among them, lighting business revenue fell by 7%, from 584 million US dollars in the fourth quarter of 2016 to 546 million US dollars. Foreign media reported that GE recently revealed that it has more closely integrated its traditional lighting business with its new lighting and energy sector Current, and is also looking for buyers for these two businesses. 1. Lighting performance fell by 7% in the fourth quarter. Want to sell Current and lighting business GE disclosed its fourth quarter 2017 earnings report at the end of last month. From the report, GE's overall revenue in the fourth quarter fell by 5%. Among them, lighting business revenue fell by 7%, from 584 million US dollars in the fourth quarter of 2016 to 546 million US dollars. In its fourth quarter financial report, GE issued a footnote stating that the company is currently calculating the revenue of Current and other lighting businesses as a division, the lighting business unit. It is reported that the previous lighting is part of the Energy Connection and Lighting business. Starting from the third quarter of 2017, after the planned sale of the lighting business, GE separated the energy interconnection business, and the energy interconnection business began to merge. GE Power Business (GE Power). Due to this combination, GE Lighting and Current are reported as an independent part. The implication is that the lighting business will be dominated by GE's Current company, and the future GE lighting business is only part of Current. Founded in 2015, Current is an innovative energy company that combines LED, solar, energy storage and electric vehicle businesses, and has incorporated business in the LED business for commercial and industrial customers. As the industry moves toward smart IoT lighting, Current's exact mission seems to have been shaken. The company once withdrew from the smart city project, and then cooperated with other manufacturers to form an ecosystem. For example, it cooperated with ATT to launch smart street lamps, provide IoT equipment for smart city construction, and test the smart city market. It also seems to no longer emphasize indoor positioning services, but to lay out intelligent lighting, focusing on energy saving. Although GE is exiting the lighting market, it does not seem to be the case. In fact, GE Lighting continues to develop smart home products, such as the C by GE smart light bulb series, and supports Amazon Alexa and Google Assistant voice control. However, in the fourth quarter report, GE dispelled any doubts that it intended to sell Current and lighting. The company offers a long list of projects that may affect its actual financial results, such as the sale of transportation, industrial solutions and existing lighting operations. 2. The lighting business is shrinking. The sale has not been reversed. I am not surprised by GE's sale of lighting business. Looking back at GE's recent years, you will find that it has already been traced. In mid-August 2016, GE Lighting announced the closure of two lighting fixtures in Lexington and Somerset in the United States by the end of August 2017. It is reported that the main business of these two factories is traditional lighting products. Less than a month later, GE spokesperson Alicia Gauer. revealed that if the union agreed, the lighting factory in GE Lighting in Bridgeville was officially closed in August 2017. This is the third lighting factory that GE announced this year, which was built in 1948. On August 31, 2016, GE Lighting CEO Bill Lacey said in an email to the company's employees that GE Lighting has terminated all direct commercial activities in Asia and Latin America since November 30, making GE Lighting highly focused. Win and consolidate its market position in North America, Europe and the Middle East, and continue to scale up and improve profitability. At the time, this news caused the indignation of GE lighting dealers. On September 28th, 2016, GE Lighting distributors jointly released the “Response of GE Dealer Representatives to GE Statementâ€. The two parties negotiated friendlyly and GE finally promised to continue the execution of orders that have already won the bid and signed customers. GE is finally willing to solve the problem. Inventory issues will be proposed to the dealers to accept the program, GE also guarantees full responsibility for the post-contractual obligations of GE product quality, and will transition in a smooth and peaceful manner in the future. On November 23, 2016, according to media reports, GE Lighting made large-scale layoffs in China, and some of the employees were dissatisfied because they failed to obtain reasonable compensation. In response to this incident, GE Lighting subsequently released a "GE China Statement" on its official website, saying that it has reached an agreement with most employees and signed a compensation plan agreement. In late February 2017, influenced by GE's global business transformation, Chen Xiangli, one of GE's R&D leaders and one of the founders of scientific research, resigned. On February 6, 2018, it was reported that GE revealed in its fourth quarter 2017 earnings report that it intends to sell Current and lighting. Foreign media said that potential buyers may include several lighting manufacturers from China and Europe.
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