Early in March, the Chinese investment consortium- with IDG Capital, LED packaging manufacturer MLS CO., LTD. and Yiwu State-Owned Assets Operation Center as the members- completed the acquisition of LEDvance from Osram. Originally a general lighting business unit of Osram, LEDvance, with the support of its new owners, extended its product line from standardized and traditional light sources to advanced LED lamps and intelligent products for smart lighting.

Last month at GILE 2017, LEDvance showcased it very first demo VR headset that presented details of its luminaires in the virtual space. (Image: LEDinside)

A senior executive at LEDvance stated the company acknowledge the importance to keep advancing its production so as to expand its penetration especially in the China lighting market, as China Daily carried in its previous report.

Thomas Dreier, Vice President and Global Head of Research and Development at LEDvance, expressed that he witnessed the trend lighting is becoming smart and the market craves for more intelligent and efficient lighting products. In response to the need, LEDvance will continue to bring to the market more innovations.

(Image: LEDinside)

Dreier announced that in 2016 LEDvance generated a consolidated sales of EUR 1.9 billion (USD 2.1 billion). He added that not only China, the largest lighting market, is LEDvance eyeing to expand its presence, but other emerging markets in the Asian-Pacific region are also targets of the company. Considering the ongoing urban renewal program Smart Cities Mission in India, it is unequivocal that the demand from India and other countries in this region will soar in the next couple of years.

Josef Martin, Asia-Pacific Chief Executive Officer at LEDvance, contended that the business of traditional lamps will continue to slump, while that of LED lamps, most notably the intelligent lighting business is anticipated with decent growth not just within China but overall in the global market.

Lawrence Lin, Executive General Manager at MLS Co., said that with the support from the consortium in terms of finance and cost-efficient components for LED light sources, LEDvance is set to become one of the top three lighting corporations within three years in the world lighting market.