Philips Raises LED Lamp Outsourcing Ratio in India

Philips is raising its LED lamp outsourcing ratio in LED lamps to 70% in the Indian market in the next six to eight months to meet local market demands, reported Indian media The Economic Times.

Currently, the Dutch lighting conglomerate sources 40% to 50% locally in the India market, said Sumit Joshi Philips Lighting India Marketing Head, adding that 90% to 95% of products sold in India are conceptualized, designed and manufactured in the local market.

Joshi also estimated LEDs would have a 40% market share in the Indian market by 2017, CFL would consist 10% to 15% of market share, while incandescent and tube lights the remaining 30% to 40%.

Following the increasing production and sales of LEDs, product prices are expected to drop to around double the prices of CFL, he added.

Philips LED sales in India have shot up by 76% in 2014, far above the industry average.

Moreover, the company has launched two new LED products in the Indian market, including Razor LED and 2-in-1, which are priced at INR 750 (US $11.21) and INR 1,790.

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