Dutch lighting giant Philips Lighting announced that its Saudi Arabia JSC has signed a strategic distribution agreement with major retailor Ahmed Abdulwahed Trading Company to sell its LED and home products, according to Arab News.
(Image: Philips Lighting)
This comes at a time when Saudi government has just introduced austerity measures that call for efficient electricity consumption and reduce energy waste. As for expenditure, the government will continue to remove subsidies on energy and oil, which is expected to help reduce the current level of spending.
In fact, lighting in homes and retail stores account for 17% of energy use in Saudi Arabia, while the global average is 15%. This is identified as a key area for energy conservation or conversion to energy-efficient lighting, said Wael Gad, CEO of Philips Lighting Saudi Arabia.
The lighting giant currently has three factories in the Kingdom, and has worked closely with local governments to strength its LED offering, he added. The partnership will offer consumers in the KSA market easier and better access to LED and home lighting applications. Philips Lighting, as a supplier of sustainable and efficient lighting technologies, can help Saudi Arabia to achieve its Saudi Vision 2030 goals, said Gad.
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