Taiwan-based LED firm Genesis Photonics introduces a new LED lighting product, Match LED. The new product emphasizes cost-saving features to attract LED packaging houses. Match LED only needs one LED component to reach 50 watt of power, according to the company.
David Chung, chairman of Genesis, noted system products will begin mass production in first-quarter 2013 and hopes revenues from system products to account for 20% of total revenues.
Genesis is a first-time participant at Hong Kong International Lighting Fair where the firm is showcasing Match LED. According to the firm, for a 10W LED light bulb, Philips uses 3-7 LEDs while other Taiwan-based firms use around 10-20 LEDs. With the new product, said Genesis, in the future, only one LED component is needed for a 10W LED light bulb. Genesis hopes to vertically integrate the technology from LED chips to system products.
Chung noted that China-based LED firms have been competing severely using low price causing Taiwan-based peers to suffer, but through product differentiation and quality, strong firms will be able to survive and avoid price competition.
Chung believes LED lighting's share of total revenues can grow to 50% in 2013 from 30% in 2012.
As for rumors circulating in the market regarding China-based Sanan Optoelectronics planning to buy Genesis shares, Chung noted that such investments need to benefit both parties and if China's government were willing to support the promotion of Match LED, then the firm would consider the possibility of accepting China-based investments.
