Philips Lighting Eyes Domestic and Institutional sales in Northeast India.
India: Philips India Limited, a
subsidiary of Netherland based firm, Royal Philips, is targeting Northeast
India market to increase their share in Lighting business. Currently, Northeast
India accounts for 3-4% of their business and to further escalate their share,
company is targeting domestic and institutional segment.
Company in the past has supplied solar
lights to Meghalaya and Manipur region. Also, the company had supplied lighting
equipment to northeast frontier and IIT- Guwahati. Apart from Northeast
frontier and IIT- Guwahati, the company has also done business with ONGC
Tripura Power Company in Tripura.
Currently, the company has over 34
dealers in Northeast India and their products are sold at more than 2,000
retail outlets.
According to TechSci Research, Philips’
lighting division, in order to increase their share in the Northeast India
market, should tie up with more electrical outlets and also, they should try to
have more dealers on board. In addition to domestic market and institutional sector,
company should also target commercial and industrial sector as well. Company should
also launch innovative lighting products which consumes less electricity and
are available at lesser price than that of competitor’s.
According to a recent report published
by TechSci Research, “India LED Lighting Market Forecast and Opportunities,
2020”, the country’s LED lighting market is projected to grow at a CAGR of over
32% during 2015-20. Presently, the outdoor LED lighting segment is the largest
revenue generator on account of growing demand for LED installations in parks,
streets, railways, metro stations, parking lots and other public places.
However, the indoor segment is anticipated to witness strong growth in future owing
to rising awareness about LED technology and various government initiatives to
subsidize cost of LEDs. Presently, Philips continues to dominate the country’s
LED market, followed by Havells, Syska, Innovlite and GE.