Philips Lighting, the maker of Philips Hue smart bulbs, has confirmed the intention to change its name to Signify, however, this will not affect the company’s use of Philips brand on its products.
In an attempt to reshape the face of the company as a global leader in the lighting business, Philips Lighting recently announced new Friends of Hue partners from Europe and with the latest move to rename the company, CEO of Philips Lighting, Eric Rondolat, says that the company has just made another step towards achieving this goal.
According to Rondolat, light is “an intelligent language, which connects and conveys meaning,” hence the need for a name change that truly reflects the company’s strategic vision. However, the company notes that it’ll keep using the Philips brand name for its products, which means their smart bulbs will still be called Philips Hue, for instance.
But despite the name change, the company’s exchange stock ticker will not change from the current LIGHT.