Everlight Electronics Co, a Taiwanian LED manufacturing company, has secured deals to provide LED street lamps to southern states in India, the company said on Friday.
An Everlight official, who declined to be named, told the Taipei Times at the company’s booth at the Smart Asia Expo & Summit in Bengaluru that “The LED street lamp projects will mark Everlight’s entry into the Indian market,”.
Everlight reported revenue of NT$29.27 billion (US$975.34 million) last year, with the LED lighting business accounting for nearly 20 percent. The official said the company’s indoor and outdoor LED lighting products have reached markets in the Philippines, Thailand, Vietnam, Indonesia and Cambodia.
Everlight has also tapped Kazakhstan’s LED street lamp market, the official added. As part of “Smart City Mission,” a program initiated by Indian Prime Minister Narendra Modi’s administration, the South Asian country is scheduled to replace an estimated 30 million street lamps with LED lamps in the coming two to three years, according to Indian media reports.
The Everlight official said the company is teaming up with an Indian LED system provider to win the procurement bids of “a number of” state governments in southern India, but he declined to disclose the number of states and their exact locations as he is not authorized by Everlight to disclose the details.
Everlight has recently shipped its LED street lamps to the state governments for certification, he said. The company is scheduled to install about 100,000 LED lamps in designated areas in the states beginning next year, he added.
The official said Everlight’s main competitors in India are Royal Philips NV and Osram Licht AG, as they also seeking to capitalize on India’s growing demand for LED street lamps. “Phillips is more aggressive compared with Osram. As far as we know, Phillips has also locked in commitments for state government projects,” he said.
Indoor LED lighting products are not to be Everlight’s focus in the Indian market, as many Chinese competitors have entered the market and dragged down selling prices to unreasonably low levels, the official said.
Everlight’s accumulated net profit totaled USD 32.39 million in the first three quarters, falling 28.05 percent from the USD 0.04 billion recorded over the same period last year, while accumulated revenue dropped 4.67 percent annually to USD 0.77 billion in the first 10 months, company data showed.