Philips Plans to Sell OLED Lighting Business

Dutch lighting conglomerate Philips has announced plans of selling its OLED business, according to a report by OLED-info.

The company is looking for a buyer of its OLED business. After the sales, Philips Lighting will be focused on smart LED lights and services.

Philips has been a leader in the OLED lighting industry for years, and sources at Philips believe the sales will be a positive development for the technology.

The company has projected many times that OLED lighting will enter the mass market by late 2016 or early 2017. However, currently the company OLED business needs more funds to expand production capacity, which is probably only achievable if a right buyer comes.