Philips Closes Shenzhen Factory

On May 31st, Philips Lighting Factory in Shenzhen–Philips Consumer Luminaires Manufacturing (Shenzhen) Co., Ltd. issued announcement about deciding to dissolve the company in advance, caused uproar in the industry. The announcement said that in recent years the company has experienced various difficulties such as the economy continuous downward, costs rise, business continuous deteriorates, despite the various measures taken, the company still failed to reverse the situation. As the world’s leading lighting brand–Philips Lighting, much attention has been paid to each step of the closure of the factory in Shenzhen, this has also sparked concern about China’s manufacturing industry.

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