Philips Thailand Anticipates Sales to Soar in 2014

Rise in lighting demands are driving up global LED market sales. Philips Electronics (Thailand) anticipate substantial growth in sales for the lighting sector this year, according to The Nation.

The LED market has already benefited from the ban on incandescent earlier this year. Lowering LED bulb prices are also attracting more consumers to make the switch to LEDs.

LED bulb sales for Philips Electronics (Thailand) accounted for 17 percent of the company’s total light bulb market reaching BT 1.81 billion (US $55.8 million). Sales are anticipated to increase 7 percent this year to 24 percent.

“The growth of the light-bulb market in Thailand is second only to that of Indonesia within South East Asia, and this market will continue to grow in the future because Thailand is the biggest producer of fluorescent light bulbs in the region," said Thankorn Wongwise, Philips GM for the lighting sector.

Philips Electronics (Thailand) will open two more branches in Chiang Mai and Pattaya, making 11 total dealers in the country.

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