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Philips Lighting, a subsidiary of the Dutch consumer electronics giant Royal Philips, today said its 45% revenue would come from the LED segment in India by 2017-18 financial year.
Presently, 78% of Philips's global revenue comes from the conventional lighting and rest 22% from light-emitting diode (LED) segment.
"By 2015 share of the LED segment in the revenue would grow up to 45% and rest 55% would be from the conventional lighting," said Philips Lighting CEO Eric Rondolat.
He, however, added that for India "we would reach this figure by 2017-18".
The cost of LED is going down in comparison to CFL. Earlier it was six times, now it is between three to five and soon it would be around two times, said Rondolat.
Philips Lighting had a global sales turnover of Rs 71,066 crore (8.4 billion euro) in FY2012. The company spends around 5% of its sales in R&D, said Rondolat.
Moreover, the company today also expanded its R&D capabilities in India by adding a new unit at its Noida-based Philips Lighting Innovation Centre, which would have expertise in the LED lighting segment.
According to Rondolat, the company has spent around $15 million in R&D between 2011 to 2013 on setting the new facility and upgrading the existing one.
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 today also introduced new LED lighting and solutions for the Indian market developed in India at its Noida facility.
"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 said.
Philips is the market leader in the lighting segment with more than 30% share and is having a double digit growth from last nine years.
The company is operating for more than 80 years in India and its products are available on more than one million retailing points here.
