OSRAM is a global provider of lamps, luminaires and lighting solutions with a leading position in a wide range of market segments. Our product portfolio spans the entire lighting value chain, from light sources down to custom light management systems, both in general and in speciality lighting.
The shift toward semiconductor technology continued to radically alter our business environment, and we continued to counter this in fiscal 2015 primarily using the measures forming part of our OSRAM Push improvement program. Beyond the technology-related shifts, changes are increasingly becoming apparent in the business models pursued by companies active in the lighting market. To date, several companies in the lighting industry have been active in all market segments and along the entire value chain; the dominant global players are Philips and OSRAM. The past fiscal year saw OSRAM react to the transformation of the lighting market, which is proceeding at different speeds and posing a variety of challenges, by departing from its previous strategy in which it positioned itself as a provider of diversified product portfolios along the entire value chain. Philips also recently started a strategic realignment of its lighting business.