FabianWhat is Signify, the manufacturer of Philips Hue, actually doing with all our money? We keep asking ourselves this (not entirely serious) question when it comes to prices. Today I have the answer for you: you become a sponsor of a Formula 1 team. Okay, it wasn’t enough to become the main sponsor, but such a co-operation won’t be completely free either.
In any case, a press release states: “Signify and Mercedes-AMG Petronas Formula 1 Team launch new partnership to drive responsible innovation on and off the track”
You can read the complete press release with all the marketing speak and the happy messages from Toto Wolf, the team boss of Mercedes, or Eric Rondolat, the CEO of Signify, in the newsroom.
What Signify is already illuminating in Formula 1
However, there was one thing that I found quite interesting – and definitely worth mentioning. Did you know, for example, that Signify provides the lighting for two night races in Formula 1?
Signify floodlights are used at the Grand Prix in Singapore and Las Vegas. I didn’t know that either, although I’ve been interested in motorsport and Formula 1 for years.
In the future, one or two of Signify’s lighting solutions are likely to end up in the paddock and pit lane, as the company writes about its cooperation with the Mercedes Formula 1 team: “Signify’s lighting innovations will support the team’s efforts to create optimal conditions for drivers, engineers and team members so that they can always give their best.”
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What an absolute waste of money. Instead of saving the money to keep the company secure or investing it in developing products like a video doorbell, an occupancy sensor, local video storage, etc., they spend a fortune on putting their logo on a car. I don’t see this paying off. It just seems like some of the executives like Formula 1 and thought it would be cool to have their company logo there. Nothing more. They obviously have too much money if they can afford this. I love their products but this just confirms that the prices are too high.
They offer there employees only 1 or 2 % salary increase and just fired huge numbers of employees last 6- 12 months. So in my eyes they cannot afford this money.