GE Splits Lighting to Form LED Unit as $5 Billion in Sales SeenBy
Commercial LED to be offered with software analytics, solar
New unit called Current seen boosting sales fivefold by 2020
General Electric Co. will pluck the commercial LED business from its lighting unit and combine it with software, solar and energy storage to offer companies more efficient systems that are expected to propel revenue growth fivefold by 2020.
Current, as GE calls the new business, will increase annual sales to about $5 billion in five years from its start at $1 billion. LED, or light-emitting diode, revenue jumped 77 percent in the second quarter while the unit’s other products fell 17 percent.