General Electric Company GE recently unveiled Bright StikLED (Light Emitting Diode) – a sleek-shaped 60-watt LED, thus accelerating consumers’ transition from Compact Fluorescent Lamp (CFL) to LED lighting.
General Electric’s bright StikLED is meant to replace more than 30% of sockets with 60-watt replacement CFL bulbs and is ideal for table and floor lamps, indoor utility sockets in basement and shed or garage.
The consumer lighting market is expected to more than double with LED, while CFL use is likely to decrease in the current year. The strategic move by the company is aimed to drive further LED adoption with the introduction of StikLED. As per industrial estimates, of the 4 billion residential light bulb sockets in the U.S., more than 50% are to be filled with LED lighting by 2020. With General Electric’s StikLED, consumers can save energy costs and at the same develop an affordable LED lighting that offers superior quality light. The new initiative by General Electric is likely to revolutionize the consumer experience in tune with the rapidly changing consumer patterns and increasing use of technology for everyday needs.
General Electric is one of the most diversified technologies and financial service corporations in the world. Its segments include Power & Water, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation, Home & Business Solutions, and GE Capital. GE Lighting, which forms an integral part of Energy Management, develops energy-efficient solutions in commercial, industrial, municipal and residential settings.
General Electric currently has a Zacks Rank #5 (Strong Sell). Better-ranked stocks from the same space include Rollins Inc ROL, Hitachi Ltd. HTHIY and Shanghai Industrial Holdings Limited SGHIY. Each of these stocks hold a Zacks Rank #2 (Buy).
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