Panasonic aims to lead LED bulb market [New Straits Time (Malaysia)]
(New Straits Time (Malaysia) Via Acquire Media NewsEdge) KUALA LUMPUR: Panasonic Malaysia Sdn Bhd aims to be the country's market leader in the light-emitting diode (LED) bulbs by capturing 40 per cent market share by next year.
The company yesterday launched a new series of LED bulbs and is confident that the segment would grow in contribution to its overall business.
"Market demand for LED bulb is growing. Market share of LED build in year 2012 is 30 per cent. With this launch, we expect to reach 40 per cent in 2013. It is a bright growing business for Panasonic Malaysia," managing director Jeff Lee said at the launch yesterday.
Panasonic launched LED bulbs in the local market back in January this year and is looking to sell 30,000 pieces by March 2013.
With the new series of LED bulbs, the company targets to sell some 230,000 pieces by March 2014.
"We are seeing increased demand for LED lamps in Malaysia, due to government new policies of banning incandescent light bulbs and consumers are also more environmentally conscious," Lee said.
He also mentioned that Panasonic is working on securing contracts to supply its LED bulbs to commercial projects as well.
"There is a lot of projects in the pipeline. We are working on it," he said.
Panasonic Lighting Company is the fourth largest manufacturer of lighting bulbs and number one provider of LED bulbs in Japan.
Panasonic aims to expand its global LED lighting business to US$2.7 billion (RM8.24 billion) by end of 2015 which equates to a three per cent growth rate.
In line with its direction to become the number one green innovative company by 2018, Lee said, Panasonic is innovating and introducing more eco and energy saving products.
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