Philips and Micromacos led the consortium that is bringing a variety of new LED and wireless lighting products to market, with a combined $9 billion to support the expansion of LED lightbulbs, wireless displays, and smart lighting solutions.
The deal also includes a new $6.5 billion fund for LED and light-emitting diode (LED) manufacturers and a $1 billion fund to fund emerging LED technology for the semiconductor industry.
Micromaket said in a statement that the new fund will be focused on LED manufacturers and semiconductor companies.
The investment comes after Micromas investments in companies including Philips and Toshiba.
Microwave and other microwave technologies are the hottest new trend in consumer electronics and are used in everything from smartphones and tablets to wearable devices and appliances.
Micronics’ $4 billion investment in Philips LED-light bulbs in December is the largest in a single investment by a Philips company.
The company also announced the launch of Micromanics Smart Lighting Platform, which aims to connect LED-based lighting products with smart home systems.
The platform will allow the company to quickly and easily provide a set of smart lighting options to consumers, Micromanos said in its announcement.