On May 16, Philips Lighting–the world’s leader in lighting–renamed itself Signify. VIR’s Hoang Anh spoke to general director of Signify in Vietnam Antonio Espada Cid about the reasons behind the change and what it means for the company’s future business plans in the world.
Congratulations on Philips Lighting becoming Signify, which is already drawing public interest. What is the reason behind this move?
This is obviously the next logical step forward in our transformational journey that started when we spun off from Royal Philips in May 2016 to become a separate corporation, listed on Amsterdam’s Euronext Stock Exchange. The name change also marks another milestone in Philips Lighting’s rich history, extending back over more than 127 years of leading the global lighting industry.
Where does the name Signify come from and what does it convey?
The choice of our new company name originates from the way light has become an intelligent language, which connects and conveys meaning. 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. The new name also reflects the long heritage of Philips Lighting and is in line with requirements for a modern and global corporation with a purpose. In addition, Signify conveys our forefront position in the lighting industry in the age of the Internet of Things (IoT). Personally, I think the new name is unique and will surely impress our customers.
Will the change of your corporate name affect the trusted Philips brand on lighting products?
There won’t be any affect except for some legal and administrative adjustments relating to the name change. We expect the name change to be implemented in all countries where it is active by the beginning of 2019. Under our new name, we will continue to use the Philips brand, the most trusted lighting brand in the world, following the existing licensing agreement with Royal Philips. We will maintain the way the Philips brand is used for products, as well as our commitment to delivering the best quality, energy efficiency, innovation, and sustainability to customers around the world.
How will Signify deliver on such a commitment in the IoT age?
As the world’s most advanced lighting technology player, we are committed to extending our lighting leadership to the IoT by turning light sources into data points to connect more devices, places, and people through light. We will combine our deep experience in lighting with technologies such as secure cloud storage, data analytics, and software applications and will continue to bring in lighting products and technologies that are intelligent and digitally connected.
What about sustainability?
Sustainability lies at the heart of our business. Through our “Brighter Lives Better World” programme, we set ambitious targets for sustainable revenues and operations. By 2020, we will be carbon neutral and 80 per cent of our revenues will come from sustainable products, systems, and services. By the same year, we aim to eliminate waste going to landfill sites, have a zero-injury workplace, and an audited and trained green supply chain.
Are there any recent achievements you would like to share with us?
Today, we lead the industry globally in conventional, LED, and connected lighting, with an installed base of 34 million connected light points across the world. With the announcement of our new Interact IoT platform and LiFi, we continue this journey by bringing new benefits, insights, and services to customers via their connected lighting grid.
|Signify (Euronext: LIGHT) is the world’s leader in lighting for professionals and consumers and lighting for the IoT. With operations in more than 70 countries and 32,000 employees worldwide, Signify generated sales of €7 billion ($7.9 billion) and invested €354 million ($400 million) in research and development in 2017. Its Philips products, Interact connected lighting systems, and data-enabled services deliver business value and transform life in homes, buildings, and public spaces. |