Yesterday, Philips, the world's top 500 company, signed a strategic cooperation framework agreement with Wuhan Hi-Tech Group to jointly establish LED lighting manufacturers and LED intelligent energy-saving lighting system technology companies to create a new "aircraft carrier" for the LED industry.
The joint venture company will establish a complete LED lighting industry production and R&D base in Optics Valley. Philips will provide comprehensive support for R&D, production and marketing. The company will enter into substantive operations in January next year, and the completed production line will achieve an annual output value of 500 million yuan.
Lin Liangqi, CEO of Philips Lighting Division Greater China, said that Philips will also set up its fifth branch in China in Wuhan.
It is reported that Philips ranks first in the world in lighting, and ranks 231th among the world's top 500 companies.
At present, there are more than 20 Fortune 500 companies in Optics Valley, and more than 80 Fortune 500 companies have settled in Wuhan.
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