EINDHOVEN: Signify, the world leader in lighting, reported a decline in third-quarter sales and profitability, prompting the company to lower its financial guidance for the full year due to a softer-than-expected U.S. market and ongoing challenges in its OEM component business. The company, known for its Philips lighting brands, announced third-quarter sales of 1.41 billion…
Tag: smart lighting
Signify reports Q2 sales of €1.4 billion amid resilient demand for connected lighting
EINDHOVEN: Signify (Euronext: LIGHT), the global leader in lighting solutions, posted second-quarter revenue of €1.418 billion, navigating persistent market headwinds with robust consumer demand and growing sustainability credentials. The company’s comparable sales declined 1.4%, dragged by its Conventional lighting business. Excluding that segment, topline growth reached 0.8%, driven by momentum in the Professional and Consumer…