Three out of six Chinese LED lighting manufacturers found themselves in an“awkward” financial situation in 2014, with many reporting plunging net profits in their recent fiscal report.

Despite delivering strong sales in its LED business, Philips profits in 1Q15 declined 28% due to slowdown in its health business, reportedFinancial Times and Marketwatch.

NVC Lighting estimates profits in 2013 will grow exponentially compared to 2012.