Signify Innovations aims doubling growth in 3 yrs
The Hindu
Signify Innovations India Ltd. aims to double revenue with 200 Philips Smart Light Hubs nationwide in 2-3 years.
Signify Innovations India Ltd., plans to double its revenue from smart lighting business by setting up 200 Philips ‘Smart Light Hubs’ natiowide over two to three years, said a top official.
“Last fiscal, revenue from lighting segment grew 20% against industry growth of 10%-15%. This year, we are aiming at double digit growth,” said Signify Business Head India - smart homes and switches, Raja Moudgil during an interaction.
Smart lighting refers to the use of Internet of Things to control room lighting and the ability to use cloud to control power virtually.
Formerly known as Philips Lighting India Ltd., Signify has established 300 Smart Light Hubs so far. They are a one-stop destination for customers’ home lighting needs be it smart or decorative lighting.
“Last year, we added 100 Smart Light Hubs. Most of them are run by franchisees. We do invest quite a bit in these franchisees and the Hubs achieve break even in the first six months,” Mr. Moudgil said.
He inaugurated the 16th Philips Smart Light Hub in Chennai on Thursday. New stores have been planned across tiers one, two and three cities.
Mr. Moudgil said connected lighting systems were growing rapidly contributing 13% of overall revenue last fiscal. “This year we expect them to contribute 20% and reach 50% in three years time,” he said.
Swiggy shares drop 8% to record low due to wider loss from quick commerce expansion against Zomato.
Sensex and Nifty trade lower amid RBI caution, foreign fund outflows; market awaits rate cut decision.
Rupee hits record low against U.S. dollar on anticipation of RBI rate cut, weak economic data, and foreign fund outflows.
India may be able to develop its own high-end computing chipset, known as GPUs, in the next 3-5 years, Union Minister Ashwini Vaishnaw said.
DeepSeek has computer code that could send some user login information to a Chinese state-owned telecommunications company, say researchers.
Workday is cutting about 1,750 jobs, or 8.5% of its workforce as it focuses on AI.
Reliance Industries, ITC, and other major companies announce significant investments in West Bengal at BGBS 2025.
The Union Budget seems to have got many things right
LIC receives ₹105.42 crore GST demand notice for seven years, no material impact on operations.
Stock markets close lower as investors turn cautious ahead of RBI's monetary policy decision amid trade war concerns.
India has accused South Korea’s Kia of evading taxes of $155 million by misclassifying component imports but the carmaker has denied wrongdoing, the latest fight by a foreign automaker with New Delhi over tariffs, according to a document and two sources.
Rupee hits all-time low against dollar amid global trade war concerns, RBI rate cut expectations, and weak services sector.
Zomato CEO Deepinder Goyal clarifies controversial hiring process, with 30 candidates selected from 18,000 applications.