With average prices of LED lighting solutions dropping due to lesser manufacturing costs, Philips Electronics India Ltd. is gearing up to meet the incoming demand and expects 50 per cent of the total lighting market to be LED by 2015.

Recently, the company unveiled a new range of lighting solutions aimed at the retail, office and housing segments. It also opened Philips LightNEXT, its first interactive LED lighting experience centre.

“We see good demand for LED. Its contribution to our consumer luminaires vertical is around 30 per cent and 20 per cent to our professional solutions segment.

Customers across segments are seeing how LED-lighting investment pays for itself due to higher efficiency,” said Nirupam Sahay, President, Philips Lighting India.

LED lighting solutions, at present, provide energy savings of up to 80 per cent in many applications and an average of 40 per cent for all lighting.

Talking about the newly launched solutions, Mr. Sahay said that they were developed from the company’s Noida research centre and hinted at the possibility of exports.

“We are actively considering some of our solar-powered LED lighting concepts for export and the same goes with this. Over the next year this could happen,” he said.