Toshiba has said it plans to sign at least three partnerships over the next year to manufacture LED lighting fixtures in Europe.
The move could bring a significant boost its presence in Europe. The manufacturer, which already makes fixtures, will partner with companies that have a strong foothold in Europe.
In an interview with Bloomberg News, Francois Seguineau, head of Toshiba’s European lighting operations, said it plans to become the region’s third-biggest supplier of LEDs by 2020.
The fixtures market is key to the plan. The partnerships will allow Toshiba to sell Asia-made LEDs in Europe with the help of fixtures manufactured by European companies, according to Seguineau.
He was quoted as saying: “It’s not with LED lamps that we will continue to grow, it’s by moving to the fixtures business,” he said. “In 2013, 20 per cent of our revenue came from the fixtures business and for 2014, we target 40 per cent.”
The company already has an existing partnership with a German company, Seguineau said, but declined to name the partner. It also has distribution deals with French electrical equipment company Rexel SA (RXL) and appliances company Sonepar Group.
But Seguineau said: “We need to have more partners, because it is the only way to succeed.”
