It’s reported that Panasonic Electric Works Co Ltd will launch about 300 kinds of new LED lighting products in spring 2009 to strengthen its LED lighting business.

With the release of the new products, the company will expand its lineup of LED lighting devices to about 700 items in fiscal 2009. It’s disclosed that the new LED lighting products are intended for a wide range of applications such as for homes, stores, public facilities, outdoors and disaster prevention. The lineup will be extensive enough to cover all forms of lighting devices including all found in a house.

The company is planning to boost sales in its LED lighting business to about ¥15 billion, which is double the current level, in fiscal 2010. Of the ¥15 billion, domestic sales account for about ¥10 billion and overseas sales constitute the remaining ¥5 billion.

Moreover, Panasonic Electric Works is aiming at ¥30 billion sales from the entire LED lighting business in fiscal 2012. Meanwhile, it intends to increase the ratio of its LED business to 10% of its overall sales, about five times the current ratio, in fiscal 2012. To meet this goal, the company will strengthen its cost competitiveness by, for example, cutting costs of LED chip procurement.