In a June investor presentation, GE set a goal of reducing its industrial net debt by $25 billion by 2020. All rights reserved. A year later, he founded the Edison Lamp Company and began manufacturing light bulbs for sale. ... We also continue to focus our portfolio recently completing the sale of GE Lighting. Chicago, March 12, 2001 - Grainger announced today that after an extensive, six-month review of its incandescent, fluorescent, high intensity discharge (HID), and other specialty lighting products, it has signed a five-year agreement to continue with GE Lighting as its strategic lighting supplier. GE is organized around a global exchange of knowledge, the "GE Store," through which each business shares and accesses the same technology, markets, structure and intellect. Going back to the investor day presentation in November, Flannery told investors he planned to exit $20 billion in GE assets amid focusing the company on power, aviation, and healthcare. Prices -- and revenue -- began to tumble.
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By 1890, Edison had consolidated Edison Lamp with most of his other businesses under Edison General Electric, and in 1892 merged with the Thomson-Houston Electric Company to form the GE we all know.Light bulbs quickly took off after that, as did innovation that improved the invention.
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With no need to replace them, the bottom fell out of the market. In 2001, it introduced GE Reveal light bulbs that filter out yellow light to produce more natural illumination. In 1906, GE engineer William Coolidge developed the modern light bulb with a long-lasting and super-bright tungsten filament -- an improvement that GE commercialized in 1911.Business was booming between 2007 and 2014, when customers bought up expensive LED light bulbs to replace their inefficient incandescents.But that growth will largely be fueled by Current, a billion-dollar GE business that sells LED lighting systems to businesses.
By 1935, GE's light bulbs were bright enough to light the first ever Major League Baseball night game, played in Cincinnati. All times are ET.