Chinese LED lighting manufacturer Opple has announced plans of entering the India market with a wide range of low-priced LED bulbs, according to an article by The EconomicTimes. Opple will become the first major Chinese LED player to enter the local market.
Opple Lighting’s India Chairman S. Venkataramani said the company will be investing between INR 550 million to INR 600 million (US $9.05 million to US $9.87 million) for brand building, distribution, and R&D in the next three years. The company’s LED bulbs are priced 10 to 15 percent lower than similar products by Philips and Harvells, said Venkataramani. He projected the share of LED bulbs and luminaires total INR 12 billion in the Indian lighting market, and is projected to grow exponentially from 2 to 3 percent market share in 2014 to 25 percent by 2020.
Opple LED products will be targeting the residential, commercial, outdoor and industrial applications in the Indian market. The company will also establish 30-35 retail stores and 300 shop-in-shops in the Indian market.