Everlight Electronics aims to turn its LED lighting business from losses to profits in 2015 with an on-year growth of 50% in revenues, according to the company.
The LED packaging firm established a wholly-owned subsidiary, Everlight Lighting, in 2012 to market own-brand LED lighting products.
The subsidiary shipped 10 million LED light bulbs in 2013, and suffered operating loss of about NT$360 million (US$11.7 million) for the first three quarters of 2014. Everlight Lighting (Shanghai), Everlight Electronics' China-based LED lighting R&D and marketing subsidiary, also posted operating loss of NT$340 million.
In the Taiwan market, LED lighting demand in 2013 reached an estimated NT$2 billion and its 2014 growth is estimated at about 30%, Everlight Electronics said.
Due to intensive competition, retail prices for 60W-equivalent LED light bulbs in the Taiwan market will fall by 30% to NT$250 in 2015, Everlight Electronics indicated, adding it will also tap overseas markets including the Philippines, Thailand and Indonesia in 2015.
In addition to own-brand operations, Everlight Electronics landed LED lighting OEM orders from Philips towards the end of 2014, according to market analysts.
The company plans to expand LED packaging capacity with total investment of NT$30 billion spreading over the next five years, which shows its ambition to compete for OEM orders from international LED lighting vendors, the analysts indicated.
