Breaking with tradition, Philips splits off lighting

Philips, the Dutch conglomerate that started life making light bulbs 123 years ago, is splitting off its lighting business in a bold step to expand its higher-margin health care and consumer divisions.

According to Reuters, the lighting business will be a separate company.

Unveiling the split on Tuesday, Philips CEO Frans Van Houten said it was not clear whether the lighting business would be sold off to investors or listed on the stock exchange, but the move would bring better returns for investors.

Read more from Reuters.