In recent years, the LED lighting market has blossomed in emerging countries, and manufacturers’ development strategies in these markets have become increasingly important. This is mainly because in mature markets, such as Europe and Japan, global traditional luminaire brands still have the greatest market share. While in highly competitive countries, such as China where it appears profitable, many manufacturers have been unable to reap profits.
In this interview for the Russian feature, LEDinside spoke to Vadim Smirnov, General Manager, Lighting Division, Rainbow Electronics, who spoke to LEDinside about local LED component sales, and gave an in depth market analysis of Russia’s lighting component retail.
“Market uncertainties” are corporates top concern when entering any new market. Local regulations, cash flows and logistics are all essential information foreign companies need to acquire.
Aside from language barriers (since some Russians do not understand English very well), enterpriese are mainly concerned with the following key issues