Panasonic group to focus on LED sales in China

GUANGZHOU, China--Panasonic Electric Works Co. hopes growing demand for energy-saving light-emitting diodes will lift its group lighting equipment sales more than five-fold in China.  The Panasonic group plans to raise sales to 3 billion yuan (37 billion yen) in fiscal 2015, more than five times the fiscal 2009 figure, officials said  in June (2011).

LED lighting will account for more than 60 percent of overall sales by fiscal 2015, they said.  "We will steer our company squarely toward LEDs," Senior Managing Director Kuniaki Matsukage told a news conference on the sidelines of the Guangzhou International Lighting Exhibition.

Panasonic Electric Works expects China's lighting equipment market will continue to grow 10 percent or more annually.  The percentage of LED lighting is expected to jump from the current 10 percent to more than 50 percent in 2015 because the government is providing subsidies and establishing standards.

The company plans to double the number of sales outlets specializing in Panasonic lighting equipment from the current 2,500, opening new ones in small and midsize cities in inland areas and elsewhere.