According to foreign media Reuters, German lighting manufacturer OSRAMLicht AG recently said that its growth target for 2014 is more challenging and plans to restructure its largest business in an attempt to rapidly transition to new technologies. .
In an investor report released on Tuesday (April 1), OSRAM said it will split its luminaires and related components business. The business's sales accounted for about half of the company's overall sales.
As the world's second-largest luminaire manufacturer after Philips, OSRAM is undergoing in-depth structural adjustments, including cutting thousands of positions and striving to transform from traditional luminaires to new technologies such as LEDs.
As the demand for traditional luminaires has shrunk, the revenue of OSRAM's luminaires and related components business has declined. The company said on Tuesday that there will be a continuous decline in the first two months of the second quarter.
Despite this, the company's revenue in the most recent fiscal year has continued to grow, surpassing the global economic growth rate, and is expected to reach 3. In 2014, Osram pointed out in the report that the growth rate in the first half of this year is limited.