Beijing time on July 10 morning news, the world's largest lighting equipment manufacturer Philips Electronics of the Netherlands and the United States Disney Company (DIS) announced an agreement on Tuesday, will cooperate in the production and sale of children's lamps to offset the weakness of the street and residential lighting equipment business.
Due to the fragile demand of European consumers, the weak construction market and the reduction of government budgets, Philips' business has been seriously affected. Last year, the company's lighting division's earnings before interest, taxes, depreciation and amortization (EBITDA) fell more than half to 188 million euros.
Philips and Disney showcased a children's bedroom at a product launch on Tuesday, decorated with a variety of Disney cartoon characters.
Philips and Disney said the new children's lighting will be available in Europe and the United States in September and will be available in Asia and Canada later this year.
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