New models for the future As more enterprises from all industries integrate Signify, the new company name of Philips Lighting, digital technology into products, they will increasingly took an innovative approach to keeping the latest have to contend with the “digital deaths” of those and greatest technology in its customers hands products. Look at smart appliances: a refrigerator by introducing Signify Circular lighting. It’s an might last 20 years, but add a touchscreen to the enterprise solution where Signify offers lighting door and some digital capabilities, and that life based on the uptime and energy needs provided 12 expectancy could drop fast. The fridge might still by its customers. The company maintains the keep food cold, but the smart capabilities won’t materials, lightbulbs and sensors required to deliver be very useful if the screen gets too old to function. the experience, swapping out older pieces for new Not only will old devices limit the business in its in order to deliver a consistent experience. This also ability to deliver the most cutting-edge experience, allows Signify to reuse, refurbish and recycle as they will begin to generate risk for the whole much as possible, helping both the company and ecosystem as aging technology is often rife with their clients to meet sustainability goals with better security vulnerabilities. Building a strategy to smoothly energy efficiency and reduced digital waste. transition customers from one generation of product to the next will be a key component of customer Signify is essentially providing lighting-as-a-service, retention and loyalty in the future. de-emphasizing the individual device and focusing on providing the best experience. Leaders like Signify realize that addressing the beta burden isn’t just about alleviating consumers’ burdens around smart products. It’s about finding opportunity in a new business model.