Taiwan-based WT Microelectronic, which distributes IC and electronic components mainly in Asia, has announced that the company has obtained rights from Philips Lumileds Lighting Company to distribute LED lighting products in the Greater China market.
WT Micro regards Greater China as a promising end-market for LED solutions. Citing IHS iSuppli, WT Micro expects China's LED market to expand 24% to US$6.6 billion in 2012. The market will further reach US$11.7 billion by 2015 representing a CAGR of 21.7% through 2011 to 2015, WT Micro quoted IHS as saying.
Avnet and Yosun Industrial, which is now under WPG Holdings, are the other distribution partners of Philips Lumileds in Greater China.
"Philips Lumileds is adding WT Microelectronics to our distribution portfolio further demonstrating our total commitment to the success of our customers in Asia," Pierre-Yves Lesaicherre, CEO for Philips Lumileds, said in a statement.
WT Micro in early 2012 acquired fellow firm Techmosa International, which has driven company revenues through the year. Consolidated revenues at WT Micro totaled NT$73.68 billion (US$2.5 billion) in the first 11 months of 2012, a 13.3% increase from a year ago.
