Oct 27, 2017: Philips is planning to tap the Indian street lighting market, and is developing a range of LED lighting products to suit the requirements of the country. It is also planning to increase its presence in India in the lighting space and create more awareness about LED products and solutions in the country.
Nigel D’ Acre, Philips Light Asia Regional Business Director, has reportedly said that India’s huge market for LED street lighting is lying untapped. The company is, therefore, focused on developing a range of LED street lighting products which could be of true value for Indian street lighting.
Among the Asian countries, India and China contribute a major chunk of Philip’s overall lighting division sales, and the company expects a huge growth from these countries. “We expect huge growth from these markets both in infrastructure and private investments,” he said.
Philips also sees huge potential in the hospitals segment, which would also help the company to grow its lighting business. As a result, Philips is looking to ramp up its brand presence in India.
Currently, 38% of Philip’s lighting business comes from the emerging markets driven by healthy growth in India and China. In 2016, the company’s total sales stood at 25.4 billion euro.
“We will ramp up our presence through education of LED lighting products, hold trade shows. Besides, we are putting in more technical people with LED expertise,” Philips Lumileds Director of Marketing Communications Steve Landau said. Philips Lumileds is a part of the Philips Electronics, which makes LED products and solutions for the company.