General Electric (GE) plans to abandon energy-saving lamp business

General Electric (GE) plans to abandon the energy-saving lamp business, namely compact fluorescent lamp (CFL). The US market will be completely discontinued. It is expected to exit the CFL market by the end of the year and fully invest in LED bulbs in the future.

In 2015, multinational group General Electric (GE) announced the establishment of a new company that combines GE's LED, solar, energy storage and electric vehicle business with its Predix platform to select and deliver cost-effective and efficient energy solutions for its customers. The company, named Current, will be the company that will merge the LED business with commercial and industrial customers.

According to the analysis of the US market research company Strategies Unlimited, the global sales volume of CFL in 2015 accounted for about 27% of the total electric light source products, worth about 3.5 billion US dollars, but will gradually decline in the future, and is expected to decrease to 8% in 2022.

In 2015, LED light source products accounted for 11% of the total number of electric light source products in the world, and will continue to climb in the future. It is expected to grow to more than 50% in 2022, and the value will reach US$10.5 billion.

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