Leading Osram investor criticizes new strategy

A leading investor in Osram criticized the German lighting maker's new strategy on Wednesday, saying a planned move into general lighting came out of the blue to shareholders and would dilute profits. Osram announced last week that it would invest a billion euros ($1.1 billion) in a new plant in Malaysia to make chips for LED (light-emitting diode) lights, dashing investor hopes it would focus on profitable niches such as car and street lighting, after selling its traditional lamps and light bulbs business.