Announcing expansion of its research and development facilities for lighting in India and further consolidate its leadership position in the Asia's third largest economy, Philips Lighting on Thursday said 45 per cent of its revenue would come from the LED segment in India by 2017-18.
At present, 78 per cent of Philips's global revenue comes from the conventional lighting and rest 22 per cent from light-emitting diode (LED) segment. “By 2015 share of the LED segment in the revenue would grow up to 45 per cent and rest 55 per cent would be from the conventional lighting. But for India, we would reach this figure by 2017-18,’’ Philips Lighting CEO Eric Rondolat said in New Delhi.
Mr. Rondolat said continued investment in innovation would help Philips maintain its leadership position in Indian lighting business. Philips has expanded its lighting innovation centre located at Noida and the company has so far invested $15 million in this facility. The Noida centre has developed around 150 products in last two years for the local market. Philips Lighting has also doubled its headcount at this centre in the last two years.
The company also announced introduction of new LED lighting and solutions for the Indian market developed in India. “India is a key market for Philips and we remain committed to delivering locally relevant products, systems and services to Indian businesses and consumers. We are investing further in local R&D capabilities to continue to develop innovative product,’’ he added.
Philips Lighting had a global sales turnover of Rs. 71,066 crore (8.4 billion euro) in 2012-13. The company spends around five per cent of its sales in R&D.
