CNN: GE is getting hard to get rid of the lighting business

Recently, CNN of the US media conducted a brief analysis of General Electric (hereinafter referred to as "GE") to get rid of the dilemma of its lighting business. The following is a translation, with some deletions:

GE has been linked to light bulbs for the past 126 years. It is now difficult for GE to get rid of it. GE has been cash-strapped for nearly a year since it announced plans to sell its lighting business and focus on services such as jet engines and MRI equipment.

Currently, General Electric (GE) has not found a buyer for the lighting business. The company's CEO, John Flannery, told analysts in a conference call last month that GE is "actively discussing" with potential buyers. However, the specific agreement has not been reached. This week, GE declined to provide its CNNMoney section with its progress in selling its lighting business.

The difficulty of GE's lighting business highlights the bleak prospects of its lighting business. Last year, GE's lighting sales fell 59% to less than $2 billion (about 12.78 billion yuan). Although lighting has always defined GE, today it is the smallest division of the company, accounting for less than 2% of its annual revenue of $122 billion. GE decided to shift its focus to three core areas: healthcare, power and aviation.

For GE, the decline in the lighting business is not a case. This is a common problem in the industry, which has limited the need for replacement due to its low price and the popularity of LED lights for decades.

Another problem is that, unlike other GE products, the light bulb is now very mediocre. It is almost indistinct to distinguish one light bulb from another. Cowen analyst Gautam Khanna said: "It has become more commoditized, it is not a technology-oriented business."

Previously, GE also considered selling its 100-year-old railway business. Limiting its bills to the United States complicates GE's transactions. For example, rail transactions are tax-free, but the deal is complex and takes several years and involves cash, stocks and derivatives. It takes a long time to sell the lighting business.

Another question: If lighting sales are similar to rail deals, GE may still be caught in high corporate debt. A person familiar with the matter told CNNMoney that even if GE sells its rail business, the health responsibilities of US pensions and retirees will not be transferred to the new company, which is not enough to alleviate its debt concerns.

Extended reading

General Electric, founded in 1892, is the world's largest multinational company providing technology and services. Since the founding of General Electric by Thomas Edison, GE has grown into an outstanding multinational company in the company's diversified development. however......

Time has passed, the company founded by Edison 125 years ago has also got rid of the lighting business.

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