General Electric announced today it's getting out of the light bulb business that helped propel the company back when it was formed in 1889 as the Edison General Electric Co. to bring together various companies started by Thomas Edison, whom you might have heard of.
The new owner of the light-bulb line - Savant Systems of Hyannis - will continue to use the GE name on its bulbs. In a statement, GE CEO H. Lawrence Culp, Jr., said:
Today’s transaction is another important step in the transformation of GE into a more focused industrial company.
Back in the day, GE explained massive night-time signs made possible by its bulbs:
No truth GE's decision to exit light bulbs had to do with fallout from this ad: