Philips Lighting Philippines has drastically cut prices of its LED products to P349 from P1,000 for its most affordable product to firm up its hold in the local market, which is being flooded by substandard cheap imported LED products.
Christine Villanueva, country marketing manager, told reporters at the press launch for its LED campaign entitled, "The Promise of a Greener World" said the sharp reduction in prices was made possible with the reduction in prices of raw materials. Philips lighting fixtures are imported from its China plant.
Villanueva said that while Philips is already the market leader in the Philippines for lighting fixtures, the share of LED products in its lighting business is still at a minimum of 10 percent. The CFL (compact fluorescent lamp) accounts for the bulk of as much as 80 percent.
But she said that the market is expected to shift to the more efficient and environment friendly LED products. Based on a study, the share of LED products is projected to grow to 45 percent by 2015 globally from the current 30 percent.
At present, most of the LED lights are being used in the professional market like office buildings but not yet for household or the consumer sector.
Philips' LED lights, she said, are low maintenance and have 15,000 burning hours for its most affordable product and as much as 40,000 hours for LED products for the professional market.
Philips lists down three key items that good LED lighting products must possess: long lasting and consistent brightness; savings on energy and cost; and guaranteed safety. In addition, Philips LED lighting solutions are at mainstream prices, to help make the shift from traditional bulbs to LED lights much easier.
When consumers shift to LED from incandescent lamp they are expected to save as much as 80 percent in terms of energy savings and 25 percent for CFL.
"The launch of this new campaign is really to claim solid leadership in the market," he said.
Besides, he said, the Philips' LED products are certified by a European standards certifying agency while others have no standards at all. Substandard LED lights have the probability of overheating.
In the first place, there is international standards that have been formulated to govern what is the right standards for LED.
Philips guarantees consumers that its LED lighting products offer long lasting and consistent brightness, savings on energy and cost, and guaranteed safety, he said.