Philips Electronics India Limited, one of India's leading lighting companies is aiming at a sales target of Rs 30 crore in its decorative lights segment by the end of 2009.Philips, which has rolled out over 400 products in the decorative lights segment, plans to add 400 more products in this portfolio by the end of 2010.
The consumer electronics major aims to tap five per cent of the decorative light market in the country which is estimated at Rs 220 crore and is growing at the rate of 25 per cent per annum.
“We are eyeing sales of Rs 30 crore in the decorative light segment by the end of 2009 out of which 20 per cent of the sales is expected to come from the eastern region. Philips has over 400 products in the decorative lighting segment and will add 400 more products by the end of 2010”, said Naveen Saxena, business development manager, Philips Electronics India Limited told Business Standard.
zPrior to the foray of Philips into the decorative lighting business, the country did not have any branded product in this segment as the decorative lights were mostly imported from China, he added.
Saxena was talking to reporters at the launch of the Philips Light Lounge, an exclusive showroom for decorative lights in the city, the first in eastern India.
Philips India has opened more than 20 such exclusive showrooms across the country and plans to have 33 outlets for decorative lights by the end of 2009.
The new Philips Light Lounge showrooms in eastern India are set to come up in locations like Kolkata, Siliguri, Guwahati, Ranchi and Patna. Philips offers a wide range of lighting solutions including Living Colours, Eco Moods, Aquafit, Kidspace and Roomstylers. The price of these products ranges from Rs 575-Rs 25,000.
