Signify announces a temporary 3% price increase

Signify announced on March 13 that all product prices will temporarily increase by 3%.

The notice sent to customers states:

As you are aware, the novel coronavirus (COVID-19) has spread to many countries around the world, and the World Health Organization (WHO) has declared the outbreak a global public health emergency. While taking all precautionary measures to safeguard the health, safety, and well-being of our employees, customers, and business partners, our immediate thoughts are with those affected. As of March 2, none of our employees have reported being infected with the virus.

Given the current situation, the full impact remains unclear. If product deliveries are affected, resulting in suspensions or delays, our sales team will contact you. The virus outbreak, along with the corresponding closures, slowdowns, and travel bans, is beyond our control. Therefore, we have no choice but to treat it as a force majeure event.

The impact of COVID-19 on our supply chain is intensifying. In addition to constrained supply conditions, it has resulted in significant additional costs for our logistics chain.

Due to this situation, we are experiencing higher-than-normal delivery costs. Therefore, it is necessary to temporarily impose a 3% surcharge on all LED electronic products (including emergency products) and luminaire electronic components (inductive and electronic ballasts).

This increase will apply to all new orders from April 1, 2020, or to forward shipments within orders placed in March. Any existing open project quotations or special price agreements will also be subject to the new pricing plan. The updated price list will be available electronically on or before March 20, 2020.

We continue to monitor and assess the situation in real time, but we do not yet know how long this temporary cost increase will last. As developments unfold and the situation evolves, we will continue to provide you with the latest updates.

Please note that special quantities exceeding your forecast and special requirements related to delivery dates must be evaluated separately.