Signify sees China as signal market
Print Edition
Signify — formerly Philips Lighting — views China as a key market for its production and R&D and believes its investment in the world’s second-largest economy will drive innovation in the local market.
“This is a market in which we will continue to invest, because we believe in the potential of China at many different levels, and we’ll continue our dedication to the market,” CEO Eric Rondolat told Shanghai Daily.
“We’ve seen China as a very progressive market when it comes to the Internet of Things and connected technologies.
“And we view it as base for developing new technologies for the global market.”
In the past few years, he said, the company has been shifting from conventional lighting to LEDs and creating new growing profit engines in order to embrace the next wave of revolution. The company has successfully maintained its market lead in conventional lighting, LED-related products and connected lighting services, he added.
“We are not deterred, despite challenging macroeconomic situation in the past year, especially in the second half,” Rondolat said.
“And we will continue to leverage the Chinese market for the global market and local businesses.”
He also called for the protection and encouragement of innovative efforts and intellectual property rights and more spending from local companies to develop the market.
Signify’s Shanghai R&D facility, with more than 1,000 staff, is the second largest for the Netherlands-headquartered company.
The company also operates four manufacturing sites in China.
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