By BizLED Bureau
May 18, 2015: Philips Lighting will increase local components in its LED lamps made and sold in India. In the next six to eight months, Philips will increase local content in its lamps up to 70% as it wants to tap rising demand for LED lamps in India.
Philips expects that by 2017, 40% of its lamps sales in India will come from LED sector by 2017. Currently, 30% of its lamp sales are from LED sector.
“We would increase the value-addition on the material part of LEDs to up to 70% in next six to eight months by deepening our supplier base here,” Philips Lighting India Marketing Head Sumit Joshi told PTI.
Currently, Philips sources about 50% from local manufacturers. He also added that about 95% products that Philips Lighting sells in India are conceptualised, designed and manufactured in India itself.
“By 2017, CFL will have 15-20% of the pie, incandescent bulb and tubelights will make for 30-40% and the remaining 40% of the market will be LEDs,” he said.
Philips has introduced two new LED products in India?Razor LED and 2-in-1.
The brand 2-in-1 offers two colour options, yellow and white light, and is priced Rs 750 onwards, while Razor LED is a downlighter and starts from Rs 1,790.
The LED market in India is estimated at about Rs 22,750 million, and is growing at CAGR of about 40%. In India, Philips? LED sales grew by 76% in 2014.
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