Philips Lumileds has signed a deal with a major distributor of LED components in India to expand its business in the country.
KORE (Key Operation & Electrocomponents Pvt Ltd), part of the Ramakrishna Electro Components Group, has signed a global distribution agreement with Philips to distribute Philips Lumileds LEDs in India.
KORE will distribute Philips Lumileds’ Luxeon range which includes Luxeon Rebel white LED chips
Philips expects to capitalise on KORE’s large customer base in India and speed up the time-to-market of its products in a country where the growth potential of LEDs is huge. A recent report by research consultancy Memoori predicted that LED penetration in India would rise from 6.4 per cent of market revenues in 2013 to nearly 20 per cent by 2017.
“LED lighting is just beginning to take off in India. But we expect remarkable growth in this market over the next several years, in both commercial and off-grid applications,” said Pierre-Yves Lesaicherre, CEO Philips Lumileds.
Satish Luthra, director of KORE’s REC group said: “KORE is now able to provide their customer base with access to the world’s most comprehensive portfolio of application-specific LED solutions.”
