As a result of mixed market environments and the ongoing weak US dollar, Osram has adjusted its forecast for fiscal year 2018 and will be accelerating its move to focus on rapidly growing high-tech markets.

Philips Lighting announced on January 10 that it was letting go of a portion of the employees at its R&D laboratory in Eindhoven, reported DutchNews.nl.

LEDVANCE stated on January 11 that it will shut down two facilities producing traditional lighting products and it is looking to complete the closing by December 2018, as EdisonReport carried in an article.

Several Taiwanese LED companies have seen positive results after three quarters of business transformation. As they have been shifting more capacity to non-blue LED applications, more mid- and small-sized LED firms starts to see turnarounds. Looking ahead to 2018, Taiwanese companies will keep differentiating themselves from Chinese competitors and expanding product lines in niche markets, such as IR LED, sensors, and Mini LED.

Vice Chairman of Korean panel maker LG Display (LGD) Sang-Beom Han announced in July that by the end of 2017, LCD panel Fab P2, P3, and P4 in Gumi would be shut down. Fab P4 is officially closed. Sources pointed out that LGD is accelerating the transformation to pare down LCD Lines.

Earlier in this week, General Electric dropped a bombshell while announcing its financial results and business outlooks for the next two years. The company cut its dividend in half and planned to strategically downsize its business by narrowing its focus on three key sectors.

LEDVANCE made an statement that it would continue its transformation after confirming the job cut at the headquarters in America last week.