Supply Chain Research

Signify announced 2Q earnings that were below analysts’ expectations, citing weak consumer demand in the LED segment. LEDs are a key emerging segment for the lighting industry with imports to the U.S. having grown by 16.8% year over year over the 12 months to May 31. Most of those LEDs come from China, representing 94.0% of imports by value. LEDs have escaped the U.S. China trade war so far, but may be targeted for tariffs if trade relations worsen. Other headwinds for Signify come from competitor GE Lighting, which has increased its LED seaborne imports to the U.S. by 224.6% in 2Q, with...