Monday, November 11, 2013: Philips Lighting announced that 45 per cent of its business revenue will come from the LED segment by 2017-18. Currently, 78 per cent of the company’s global revenue is generated from the conventional lighting. The remaining 22 per cent comes light-emitting diode (LED) segment.
Eric Rondolat, Philips Lighting CEO told media, “By 2015 share of the LED segment in the revenue would grow up to 45 per cent and rest 55 per cent would be from the conventional lighting. But for India, we would reach this figure by 2017-18.”
Rondolat also said that the company will be constantly investing in innovation in order to keep its leadership position intact. Philips has reportedly expanded its lighting innovation centre located at Noida and the company has so far invested $15 million in this facility. The Noida centre has developed around 150 products in last two years for the local market. Philips Lighting has also doubled its headcount at this centre in the last two years, The Hindu reported.
Company recently announced its new LED lighting and solutions for the Indian market. “India is a key market for Philips and we remain committed to delivering locally relevant products, systems and services to Indian businesses and consumers. We are investing further in local R&D capabilities to continue to develop innovative product,” Rondolat added.