Philips's LED Sale is Expected to Occupy 50% of Its Total Business Volume in 2015

After Philips transferred its Audio and accessories businesses to Japanese companies, this consumer electronics giant has completely taken off the "electronic" coat. It was pointed out in the latest news from Philips that the "Royal Philips Electronics of Netherlands" has been replaced by "Royal Philips of Netherlands".

Recently, Philips Lighting being one of the main businesses of Philips revealed in Guangzhou that Philips's LED sale is expected to take up 50% of its total business volume in 2015.

In accordance with the earnings report in Q1 of 2013 of Philips, sales of LED lighting products and solutions increased by 38% year-on-year, accounting for 23% of its total lighting sales. Therefore, Philips Lighting must accelerate to extend markets to achieve the target that Philips's LED sale occupies 50% of its overall business volume in 2015.

Philips stated that it is accelerating the strategic transformation from lighting component manufacturer to integrated lighting solutions provider, and it will develop the business model closer to the local market to better meet the various needs of local customers from segments market.

Philips has officially listed its universal LED bulb priced $ 49, which will help the mature LED indoor lighting products to be more widely used by the general consumers. Philips expects that the current global penetration rate of LED lighting business is less than 20%, while this proportion is expected to increase to 45% in 2015. "The penetration rate of LED in Chinese market will be higher because of the promotion of government policies" senior executives from Philips believe, "some excellent Chinese lighting enterprises will stand out".
 

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