Launching of LED Lights

CURRENT ISSUE IN PHILIPS-“Launching of LED Lights”

Over the past few years customer’s needs and demands have increased many folds. The market of lighting is very vast with attractive opportunities and on top of it, it is growing radically with the technical advancements happening in the field of research and development.

Over the past 121 years Philips lighting has emerged out to be a global market player. Philips aims to establish its control and position in the lighting digital market through expansion and more investment in the LED lighting technology.

Along with this the company wants to place a brand image of quality and perfection amongst its users in this segment. Being the market leaders and already having a renowned market value Philips is confident of getting a good response internationally by launching their LED lights.

Company is expecting global lighting market to grow by a minimum of 5-7%( compounded annual growth) and the major part of this is expected to be from LED based products which is approximately 45% of the total market share of this.

1.5 LAUNCHING LED LIGHTS IN MARKET

Philips is offering LED lighting solutions for all outdoor and indoor users which include customers from the segments of schools, offices, colleges, industries, hospitals and outdoor clients which include street lights, car lights and other types of stadium lights.

The launch of LED lights is a current issue which will decide the company’s performance in the coming years to come since this is a completely new thing which needs time to be absorbed in the market and the company needs to design strategies to meet customer expectations and deliver them the best. So this technical change is the offering of lighting systems is a major issue pertaining to be scanned in this analysis. Apart from this LED is a revolution rather than a technology in lighting field and starting this revolution is far much better than being a part of it.

LED lighting system is a major step towards implementing and accelerating transformation and Philips believe that being one of the first entrants in this segment will make them the market leaders without an issue.

Following are some of the points which Philips has taken into consideration as a part of launching LED lights in the market-

• To provide meaningful and innovative solutions to the customers, this adds value to their lives.
• To serve the ever increasing urbanization and globalizing economy.
• To fit into the changing lifestyle of people and to add meaning to their needs and desires.
• To enhance life with light is what Philips follows.
• To work towards the social responsibility towards the society and towards the environment by providing more energy efficient sources of lighting this can save the non renewable sources of energy too.